From 2013 to 2023, the number of cards with an e-money function in Indonesia exhibited significant fluctuations. Notable growth trends were observed in 2016, 2017, and 2018 with year-on-year increases of 49.22%, 75.77%, and 85.78%, respectively. However, this was interspersed with periods of decline in 2014, 2015, 2019, and 2020. By 2023, the volume stood at 195.29 million units, a year-on-year increase of 5.54%, with a compound annual growth rate (CAGR) of 3.15% over the last five years.
The future outlook from 2024 to 2028 suggests a steady growth trajectory, with the number of e-money cards expected to reach 249.4 million units by 2028. The forecasted CAGR for the next five years stands at 3.78%, indicating a growth rate of 20.38% over the period.
Trends to watch for include the potential impact of innovative payment technologies, regulatory changes, and shifts in consumer preferences towards digital payment solutions. Monitoring these factors will be crucial for anticipating market dynamics and identifying emerging opportunities.