Dublin, Jan. 15, 2021 (GLOBE NEWSWIRE) -- The "Indonesia Cards and Payments - Opportunities and Risks to 2024" report has been added to ResearchAndMarkets.com's offering.
This report provides detailed analysis of market trends in the Indonesian cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, and cheques during the review-period (2016-20e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2020e-24f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.
The report brings together the publisher's research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
This report provides top-level market analysis, information and insights into the Indonesian cards and payments industry, including -
- Current and forecast values for each market in the Indonesian cards and payments industry, including debit, credit, and charge cards.
- Detailed insights into payment instruments including cash, cards, and cheques. It also, includes an overview of the country's key alternative payment instruments.
- E-commerce market analysis.
- Analysis of various market drivers and regulations governing the Indonesian cards and payments industry.
- Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.
Scope of the report:
- To encourage the use of electronic payments among Indonesian consumers, the central bank introduced an interoperable domestic network called National Payment Gateway, known locally as Gerbang Pembayaran Nasional (GPN) in December 2017. Following the launch, banks started to issue debit cards bearing the GPN logo. All debit card transactions in Indonesia must now be processed domestically. Foreign scheme providers are required to establish partnerships with domestic switching companies approved by the central bank in order to settle their transactions, or else need to become a domestic switching company with 80% local ownership. Following the regulation, Mastercard partnered with domestic switching company Artajasa in August 2019 to process domestic debit card transactions. Similarly, Visa and domestic switching company ALTO received approval from the central bank in September 2020 to form a partnership for domestic transaction processing for debit cards.
- To enhance the security of the country's payment system and boost payment card usage, the central bank mandated that all ATM and debit cards must be migrated to the EMV standard with a six-digit PIN by December 31, 2021. Effective from July 2017, new debit cards must be EMV-compliant, and the transition of existing magnetic stripe cards is taking place in phases scheduled to be completed by the end of 2021. Effective from July 1, 2020, all transactions made via credit cards must be authenticated with a six-digit PIN.
- Alternative payments are gaining prominence in the country, with a number of international and domestic payment methods being offered. In June 2019, LinkAja - a government-owned e-money platform - launched by integrating the e-payment services provided by government-owned banks into a single e-wallet. Bank Mandiri's e-cash; Bank BRI's T-bank and My QR; Bank Negara Indonesia's (BNI's) Yap! and UnikQu; and telecom operator Telkomsel's TCASH were all integrated into this platform. The wallet allows users to make in-store, in-app, online, and utility bill payments. Meanwhile, Samsung Pay launched in Indonesia in March 2019.
Key Topics Covered:
- Payment Instruments
- Card based Payments
- Merchant Acquiring
- Ecommerce Payments
- Buy Now Pay Later
- Mobile Proximity Payments
- P2P Payments
- Bill Payments
- Alternative Payments
- Job Analysis
- Payment Innovations
- Payment Infrastructure & Regulation
- Appendix
Companies Mentioned
- Bank BRI
- BNI
- Bank Mandiri
- BCA
- CIMB
- Maybank
- Bank Danamon Indonesia
- Bank Mega
- UOB
- Citibank
- Visa
- Mastercard
- American Express
- GPN
- JCB
For more information about this report visit https://www.researchandmarkets.com/r/pj8t7r
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