The research reports on Indonesia Cards and Payments Market report gives detailed overview of factors that affect global business scope. Indonesia Cards and Payments Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors. Indonesia Cards and Payments Market report contains emerging players analyze data including competitive situations, sales, revenue and market share of top manufacturers.
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Top Companies mentioned-
Bank Danamon Indonesia
United Overseas Bank
Indonesia Cards and Payments Market 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 (2019e-23f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
The report brings together 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.
Indonesia Cards and Payments Market 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 cards, cash, 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 this Report-
– To encourage the use of electronic payments among Indonesian consumers, the central bank introduced NPG in December 2017. The gateway enables the interoperability and switching of domestic payments, thereby creating an interconnected payment ecosystem. With the interoperability and infrastructure sharing system in place, the merchant discount rate on payment cards – which ranged between 2% and 3% – was reduced to 1%. And for domestic transactions the government introduced ATM/debit cards bearing the NPG logo. According to the central bank, a total of 16.1 million cards bearing the NPG logo were issued in 2018.
– To enhance the security of the countrys 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. The transition has been taking place in phases; 50% of banks debit cards must be EMV-compliant by December 31, 2019. In addition, banks are also taking steps to enhance security for customer accounts and transactions. In April 2018, Bank Rakyat Indonesia (Bank BRI) partnered with the State Cyber and Code Agency to introduce a digital signature verification system to its mobile banking platform. Initially, the bank introduced digital signatures for validation when opening an account via its mobile banking app.
– The emergence of mobile-only banks in Indonesia is likely to further accelerate the shift towards electronic payments. Singapore-based DBS Bank launched its mobile-only bank digibank in August 2017. Consumers can open a digibank account by providing their biometric scans to digibank agents. They can then use their account to make fund transfers and cash withdrawals with no administration fees. In August 2018, Singapores UOB announced plans to launch its digital bank TMRW in five Asian markets. The Indonesia launch is scheduled for the end of 2019.
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Reasons to buy this Report-
– Make strategic business decisions, using top-level historic and forecast market data, related to the Indonesian cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the Indonesian cards and payments industry.
– Assess the competitive dynamics in the Indonesian cards and payments industry.
– Gain insights into marketing strategies used for various card types in Indonesia.
– Gain insights into key regulations governing the Indonesian cards and payments industry.
Table of Contents in this Report-
Payment Preferences: Cash, Card and Mobile wallet
Mobile Proximity Payments
Payments Infrastructure & Regulation