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Consumer Payments Country Snapshot: Indonesia 2016

  (August 10, 2017)

NEW YORK, Aug. 10, 2017 /PRNewswire/ --

Consumer Payments Country Snapshot: Indonesia 2016

Summary

Cash remains an important traditional payment tool in Indonesia; cards will be used more frequently as the move to non-cash payments accelerates. Providers should increasingly promote card adoption and use merchant partnerships, reward programs, and other benefits to encourage card use, while educating Indonesian consumers about the advantages of using payment cards over cash.


Read the full report: http://www.reportlinker.com/p05057939/Consumer-Payments-Country-Snapshot-Indonesia.html

Indonesia's e-commerce space is forecast to report a compound annual growth rate (CAGR) of 26% over 2016-21 - higher than all other regional markets surveyed. This suggests there is significant future growth potential, which will be driven by an increase in mobile internet penetration, a growing middle class and their disposable income, as well as the use of mobile-first platforms gathering personalized data to target the mobile user.

In spite of recent progress, Indonesia's payment acceptance network is still underdeveloped, with 1 point of sale (POS) terminal per 246 people and 1 ATM per 2,501 people in 2015. Since smartphone penetration is already on the rise and is expected to reach over 18% by 2021, providers should consider extending the mobile point of sale (mPOS) network as a means of increasing card acceptance among merchants and promoting financial inclusion in the country.

Indonesia remains a cash-driven economy, although new payment technologies are expected to gradually increase in importance, with e-commerce and mobile payments in particular predicted to drive significant growth and opportunities through 2021. The modernization of the country's payments infrastructure and the National Non-Cash Movement promoted by Bank Indonesia will support the transition to digital payments. However, this change will take time to spread throughout the market.

The report "Consumer Payments Country Snapshot: Indonesia 2016" examines the consumer payments market in Indonesia, considering payment cards, online payments, P2P payments, and newer payment technologies such as mobile wallets and contactless. The report also examines the main regulatory players overseeing the market.

In particular this report provides the following analysis -- Analyzes consumer attitudes to financial services by lifestage.- Analyzes the major payment card types in terms of both card holding and usage.- Identifies the major competitors in card issuing and how their position in the market has changed over the last five years.- Considers consumer attitudes towards P2P tools, mobile payment tools, and contactless cards, and how companies in Indonesia are deploying these tools to meet customer needs.- Explores the online payment market in Indonesia by merchant type and payment tool, as well as providing a five-year forecast for the development of the market.

Companies mentioned in this report: Visa, Mastercard, American Express, JCB, Bank Rakyat Indonesia, Bank Mandiri, BCA, BNI, PT Bank CIMB Niaga, Bank Tabungan Negara, MoneyGram, Arsema, Xendit, SMBC, Bank Tabungan Pensiunan Nasional, UOB Indonesia, Wirecard, Bank Mega, Samsung, Mozido, Verifone, Finnet Indonesia, Telkomsel Indonesia, Indosat Ooredoo, Apple, Alibaba, Lazada Indonesia, MatahariMall, Bhinneka, Blibli, Zalora Indonesia, Bobobobo, Traveloka, Tokopedia, Bukalapak, Qoo10, Elevenia, Rakuten Belanja Online, Lamido, Ant Financial, Emtek Group, Blackberry, GoSwiff

Scope
- While cash remains an important traditional payment tool in Indonesia, cards will be used more frequently as the move to non-cash payments accelerates.
- There is significant future growth potential in e-commerce, which will be driven by an increase in mobile internet penetration as well as the emerging middle class.
- In spite of recent progress, Indonesia's payment acceptance network is still underdeveloped, with only 1 point of sale terminal per 246 people and 1 ATM per 2,501 people in 2015.

Reasons to buy
- Understand the key facts and figures in the consumer payments market in Indonesia.
- Learn what trends drive consumer behavior at the macro level and plan your strategy accordingly.
- Find out what products the major competitors are launching in the market.

Read the full report: http://www.reportlinker.com/p05057939/Consumer-Payments-Country-Snapshot-Indonesia.html

About Reportlinker
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View original content:http://www.prnewswire.com/news-releases/consumer-payments-country-snapshot-indonesia-2016-300502905.html

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Related Keywords:Computers/Peripherals, Internet, Communications, Web, Smart Phone, PDA, Research, Internet, Business Issues, Internet/Web, Prosumer/Consumer, Internet, Handheld PC/PDA, Science, Internet Technology, Internet, Other,

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