According to the publisher, the prepaid card market (value terms) in Indonesia increased at a CAGR of 10.5% during 2019-2023. Over the forecast period of 2024 to 2028, the market is expected to record a CAGR of 8.0%, increasing from US$6.00 billion in 2023 to reach US$9.11 billion by 2028.
The prepaid card market is expected to report steady growth over the medium term in Indonesia. Firms are seeking to drive financial inclusion by targeting underbanked and unbanked consumers, which will also support the growth of the prepaid card market in the country. To capitalize on the unbanked and underbanked segment, businesses are scaling their product offerings, and this trend is expected to continue throughout 2024.
Regional firms are also eyeing payment services licenses in the Indonesian market, as they seek to tap into the growth opportunity available in the Southeast Asian nation over the medium term. The entry of new players will also aid innovation and the competitive landscape in the Indonesian prepaid card market. Overall, the publisher maintains a positive growth outlook for the industry over the next three to four years.
This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Indonesia. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.
The prepaid card market is expected to report steady growth over the medium term in Indonesia. Firms are seeking to drive financial inclusion by targeting underbanked and unbanked consumers, which will also support the growth of the prepaid card market in the country. To capitalize on the unbanked and underbanked segment, businesses are scaling their product offerings, and this trend is expected to continue throughout 2024.
Regional firms are also eyeing payment services licenses in the Indonesian market, as they seek to tap into the growth opportunity available in the Southeast Asian nation over the medium term. The entry of new players will also aid innovation and the competitive landscape in the Indonesian prepaid card market. Overall, the publisher maintains a positive growth outlook for the industry over the next three to four years.
Digital wallets are scaling and innovating to tap into the high-growth prepaid card market in Indonesia
To tap into the unbanked and underbanked segment of the Indonesian population, digital wallet service providers are seeking to scale their products, while also innovating with their offerings.- GoTo, for instance, made its digital wallet GoPay app available for consumers throughout Indonesia in 2023. In the past, the digital wallet was accessible for payments only through Gojek and Tokopedia. However, the firm has now expanded the scope of the digital wallet, as it seeks to tap into huge chunks of the unbanked population.
- GoPay, in January 2024, also added a new savings feature to its digital wallet to attract more users. The feature will enable consumers to save amounts starting as low as IDR 1. The interest rate offered is 3.75% per annum on the available balance. The savings, at offering, is also guaranteed by Indonesia's Financial Services Authority, Bank Indonesia, and Deposit Insurance Corporation.
Regional fintech firms are seeking payment services licenses to tap into the high-growth market in Indonesia
With the digital economy poised to grow at a significant rate in the Indonesian market by 2025, regional fintech firms are eyeing growth opportunities in the flourishing fintech market over the medium term.- PayerMax, under its subsidiary PT Smart Fintech For You, has successfully obtained approval from Bank Indonesia to provide payment services in Indonesia. This license enables PayerMax to enter and establish a presence in the rapidly growing digital economy of Southeast Asia's largest market. The digital economy in Indonesia was valued at US$77 billion in 2022, and projections indicate it is anticipated to reach US$130 billion by 2025, according to data from Google, Temasek, and Bain & Company.
- Indonesia has experienced significant progress in its digital payment system and infrastructure over the last few years. This includes the introduction of QRIS, a standardized QR code payment system in Indonesia. This system enhances the ease and efficiency of payment transactions, benefiting numerous mobile banking apps and digital wallets like GoPay, OVO, ShopeePay, and DANA. Additionally, the National Open API Payment Standard (SNAP) has been implemented, fostering connectivity and compatibility throughout the payment ecosystem.
This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Indonesia. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.
- Market dynamics: Provides a comprehensive view on size and structure, industry dynamics, market trends, consumer attitude and behaviour, and competitive landscape in prepaid card and digital wallet industry.
- Digital wallet segments: Provides value, volume and average value per transaction across 5 key spend categories in digital wallet. This includes retail, travel, entertainment and gaming, restaurant, and recharge and bill payment.
- Open loop and closed loop prepaid cards: market estimates and forecasts to assess opportunities 12 open loop and closed loop prepaid market segments. Details four essential KPIs - number of cards in circulation, number of transactions, load value, and value of transactions.
- Virtual Prepaid Cards: Provides transaction value analysis across 12 key prepaid card catergories for Virtual Prepaid Cards.
- Detailed Market Share Analysis by Key Players in the Prepaid Card Market.
- Consumer attitude and behaviour: Drawing from proprietary survey results, this report identifies and interprets key prepaid KPIs, including spend by age, gender, and income level.
- Retail spend: Breaks down retail spend across 11 categories to provide detailed insights on consumer behaviour and changing dynamics of prepaid card spend.
Scope
This report provides a detailed data centric analysis of prepaid payment instruments, covering spend through prepaid cards and digital wallets across retail and corporate consumer segments. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics in Indonesia. With over 100 KPIs at country level, this report provides comprehensive understanding of prepaid card and digital wallet card market dynamics.Indonesia Prepaid Payment Instrument Market Size and Forecast
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
Indonesia Digital Wallet Market Size and Forecast
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
Indonesia Digital Wallet Market Size and Forecast by Key Segments
- Retail Shopping (Value, Volume, Avg. Value)
- Travel (Value, Volume, Avg. Value)
- Entertainment and Gaming (Value, Volume, Avg. Value)
- Restaurant (Value, Volume, Avg. Value)
- Recharge and Bill Payment (Value, Volume, Avg. Value)
Indonesia Digital Wallet Spend by Key Retail Categories
- Food and Grocery
- Health and Beauty Products
- Apparel and Foot Wear
- Books,Music and Video
- Consumer Electronics
- Pharmacy and Wellness
- Gas Stations
- Restaurants and Bars
- Toys, Kids and Baby Products
- Services
- Other Categories
Indonesia Prepaid Card Industry Market Attractiveness
- Load Value Trend Analysis
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Market Share Analysis by Functional Attributes - Open Loop vs. Closed Loop
Indonesia Open Loop Prepaid Card Future Growth Dynamics
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Indonesia Closed Loop Prepaid Card Future Growth Dynamics
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
- Number of Cards
Indonesia Prepaid Card Market Share by Key Players
- General Purpose Prepaid Cards
- Business and Administrative Expense Prepaid Cards
- Travel Forex Prepaid Cards
- Meal Prepaid Cards
Indonesia Prepaid Card Consumer Usage Trends
- By Age Group
- By Income Group
- By Gender
Indonesia Prepaid Card Spend by Key Retail Categories
- Food and Grocery
- Health and Beauty Products
- Apparel and Foot Wear
- Books,Music and Video
- Consumer Electronics
- Pharmacy and Wellness
- Gas Stations
- Restaurants and Bars
- Toys, Kids and Baby Products
- Services
- Other Categories
Indonesia General Purpose Prepaid Card Market Size and Forecast
Indonesia Gift Card Market Size and Forecast
Gift Card Market Size and Forecast by Functional Attribute
- By Open Loop Gift Card
- By Closed Loop Gift Card
Gift Card Market Size and Forecast by Consumer Segments
- By Retail Consumer Segment
- By Corporate Consumer Segment
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location
Indonesia Entertainment and Gaming Prepaid Card Market Size and Forecast
Indonesia Teen and Campus Prepaid Card Market Size and Forecast
Teen and Campus Prepaid Card Market Size and Forecast by Functional Attribute
- By Open Loop Teen and Campus Prepaid Card
- By Closed Loop Teen and Campus Prepaid Card
Indonesia Business and Administrative Expense Prepaid Card Market Size and Forecast
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Indonesia Payroll Prepaid Card Market Size and Forecast
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Indonesia Meal Prepaid Card Market Size and Forecast
Meal Prepaid Card Market Size and Forecast by Consumer Segments
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Indonesia Travel Forex Prepaid Card Market Size and Forecast
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
- By Retail
- By Small Scale Business Segment
- By Mid-Tier Business Segment
- By Enterprise Business Segment
- By Government Segment
Indonesia Transit and Tolls Prepaid Card Market Size and Forecast
Indonesia Healthcare and Wellness Prepaid Card Market Size and Forecast
Indonesia Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
Indonesia Fuel Prepaid Cards Market Size and Forecast
Indonesia Utilities, and Other Prepaid Cards Market Size and Forecast
Indonesia Virtual Prepaid Card Industry Market Attractiveness
- Transaction Value Trend Analysis
- Transaction Volume Trend Analysis
- Average Value per Transaction
Indonesia Virtual Prepaid Card Market Size and Future Growth Dynamics by Key Categories
- General Purpose Prepaid Cards
- Gift Cards
- Entertainment and Gaming Prepaid Cards
- Teen and Campus Prepaid Cards
- Business and Administrative Expense Prepaid Cards
- Payroll Prepaid Cards
- Meal Prepaid Cards
- Travel Forex Prepaid Cards
- Transit and Trolls Prepaid Cards
- Social Security and Other Government Benefit Programs Prepaid Cards
- Fuel Prepaid Cards
- Utilities and Other Prepaid Cards
Reasons to buy
- In-depth understanding of prepaid card and digital wallet market dynamics: Understand market opportunity, industry dynamics, key trends and drivers across 75+ market segments and sub-segments of prepaid payment instrument,Prepaid Card, Digital Wallet and Virtual Prepaid Card in Indonesia.
- Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Transaction Value, Transaction Volume, and Average Value Per Transaction.
- Develop market specific strategies: Identify growth segments and target specific opportunities to formulate your prepaid card and digital wallet strategy; assess market specific key trends, drivers and risks in the industry.
- Detailed analysis of market share by key players across key Prepaid Card Categories.
- Get insights into consumer attitude and behaviour: Understand changing consumer attitude and behaviour and boost ROI. Get detailed insights into retail spend through prepaid cards, virtual prepaid cards and digital wallets.
Table of Contents
1 About this Report
2 Prepaid Payment Instrument Market Size and Future Growth Dynamics by Key Performance Indicators
3 Digital Wallet Market Size and Future Growth Dynamics by Key Performance Indicators
4 Digital Wallet Market Size and Future Growth Dynamics by Key Segments
5 Indonesia Digital Wallet Retail Spend Dynamics
6 Indonesia Prepaid Card Industry Market Attractiveness
7 Indonesia Open Loop Prepaid Card Future Growth Dynamics, 2019 - 2028
8 Indonesia Closed Loop Prepaid Card Future Growth Dynamics, 2019 - 2028
9 Indonesia Prepaid Card Market Share by Key Players
10 Indonesia Prepaid Card Consumer Usage Trends
11 Indonesia Prepaid Card Retail Spend Dynamics
12 Indonesia General Purpose Prepaid Card Market Size and Forecast, 2019 - 2028
13 Indonesia Gift Card Market Size and Forecast, 2019 - 2028
15 Indonesia Teen and Campus Prepaid Card Market Size and Forecast, 2019 - 2028
16 Indonesia Business and Administrative Expense Prepaid Card Market Size and Forecast, 2019 - 2028
17 Indonesia Payroll Prepaid Card Market Size and Forecast, 2019 - 2028
18 Indonesia Meal Prepaid Card Market Size and Forecast, 2019 - 2028
19 Indonesia Travel Forex Prepaid Card Market Size and Forecast, 2019 - 2028
24 Indonesia Virtual Prepaid Card Industry Market Attractiveness
25 Indonesia Virtual Prepaid Card Market Size and Future Growth Dynamics by Key Categories
26 Further Reading
