Forecast: Value of Payments by Cards with a Credit Function in Indonesia

From 2013 to 2023, Indonesia experienced a fluctuating yet overall modest growth in the value of payments made by credit function cards, standing at $21.59 billion in 2023. The value reached its lowest in 2020 at $17.82 billion due to economic disruptions, then rebounded in 2021 with a 26.75% increase. The five-year CAGR from 2018 to 2023 indicates an average annual growth of 0.15%, with notable recovery in recent years.

From 2024 onwards, forecasted data suggests a steady but minimal increase, with the five-year CAGR projected at 0.14%, reaching $21.86 billion by 2028. This shows stability in the payments ecosystem, though at a subdued growth rate.

Future trends to watch for:

• Increasing adoption of digital payment methods which might impact the value of traditional card payments.
• Economic factors and consumer spending behavior influencing credit usage.
• Regulatory changes and technological advancements enhancing transaction efficiency and security.