Key Market Indicators
The number of credit cards in Indonesia is projected to increase to approximately 19.1 million units by 2028, up from around 18.2 million units in 2023. This represents an average annual growth rate of 0.7%. Since 2017, the supply of credit cards in Indonesia has grown by 1% each year. In 2023, Indonesia ranked 14th globally in terms of the number of credit cards, with Australia slightly ahead at 18.2 million units. China, Japan, and Brazil secured the 2nd, 3rd, and 4th positions, respectively. In terms of credit card transactions, Indonesia is expected to reach around $21.9 billion by 2028, rising from $21.6 billion in 2023. This indicates a compound annual growth rate (CAGR) of 0.1%. Since 2017, the demand for credit card transactions in Indonesia has increased by 0.2% annually. In 2023, Indonesia ranked 17th globally for credit card transaction value, with Sweden marginally ahead at $21.6 billion. South Korea, Japan, and Canada held the 2nd, 3rd, and 4th positions, respectively, in this ranking.
