Press Release

According to the Indonesia prepaid cards market report by IMARC Group, the market is expected to grow at a CAGR of around 26% during 2019-2024. A prepaid card is a stored-value card through which is used for making transactions. The card does not require to be linked with a bank account and is used as an alternative to banknotes. Prepaid cards are available to anyone irrespective of their credit rating or level of income. They enable users to make payments conveniently and prevent fraudulent transactions. Apart from this, certain variants of prepaid cards can be reloaded with cash, while others have to be disposed of once the value has been maxed.

The Indonesia prepaid cards market is driven by the thriving e-commerce sector and increasing demand for cashless payment alternatives. Owing to the growing use of Point of Service (POS) and Electronic Data Capture (EDC) terminals in Indonesia, consumers are adopting prepaid cards for making convenient transactions. Furthermore, the escalating need for financial inclusion of unbanked consumers is also providing a boost to the market growth. Other factors, including the adoption of electronic banking, advancements in the IT infrastructure, favorable government policies and rising disposable incomes, are projected to drive the market further.

Browse full report with detailed TOC and list of figures and tables:

Key Market Segmentation:

Market Breakup by Card Type

1. Closed Loop Cards
2. Open Loop Cards

Market Breakup by Purpose

1. Transportation
2. Gas/Fuel
3. Food and Beverages
4. Others

Market Breakup by Vertical

1. Retail
2. Corporate/Organization
3. Government
4. Others

Market Breakup by Region

1. Java
2. Kalimantan
3. Sumatra
4. Sulawesi
5. Others

Some of the major players operating in the industry include:

Mandiri Bank
Bank DKI
Bank Negara Indonesia
Bank Central Asia
Bank Rakyat Indonesia
Bank BNI

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This post was originally published on Stock Markets News

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