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Indonesia Country Report

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  • Published Date: February 2018 – Updated report available October 2020

A comprehensive overview of the cards, payments and consumer banking market in Indonesia.


  • Financial inclusion remains a major issue in Indonesia with just over a third of adults having a bank account.
  • Of the 16 markets in Asia-Pacific covered by Verisk Financial Research only the Philippines, India, Bangladesh and Pakistan have a lower average debt per household.
  • From June 2018, all electronic transactions carried out in the country must be processed domestically, through the National Payment Gateway.
  • This shift is likely to reduce the merchant service charge for off-us transactions from between two and three per cent to approximately one per cent.
  • Credit card penetration stands at just nine per cent. Growth in the credit card base is restricted by regulation on eligibility requirements.
  • Credit card profits declined by an estimated 18 per cent in 2017 as the central bank lowered the cap on APRs to 27 per cent.
  • Debit card ownership is expanding rapidly. Penetration reached 81 per cent in 2017 – compared to 34 per cent in 2011.
  • The market for prepaid cards is also booming. Billed volume on prepaid cards increased from just $69 million in 2011 to $866 million in 2017.
  • Visa dominates the credit card networks space with 70 per cent of cards in issue and 62 per cent of billed volume in 2017.
  • Despite rapid growth in the number of POS terminals over recent years, Indonesia still lacks an adequate card acceptance infrastructure, with 6.4 POS terminals per 1,000 people at the end of 2017.

Indonesia Payments Research | Report Contents

Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country.

  • Population structure
  • Income
  • Mobile and internet use
  • Economic data

Retail Banking:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:

  • Aggregate retail banking indicators
  • Bank branch, ATMs and POS terminals
  • The profitability of top banks

Consumer Finance:
Overview of consumer finance in the country. Categories analysed include:

  • Mortgage loans
  • Personal loans
  • Credit card loans
  • Vehicle loans

Credit Cards:
Industry-leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume


Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in the Asia Pacific region. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.

See more Asia-Pacific Country Reports or explore the full range of cards and payments reports available for 72 markets worldwide.

To find out more or to discuss subscription options, please email: research_enquiries@verisk.com or telephone: +44(0)20 7337 4200.