Forecast: Value of Cheque Payments in Indonesia

The data on cheque payments in Indonesia reveals a consistent decline from 2013 to 2023. In 2023, the value stood at 6.29 billion USD. Over the last two years, cheque payments fell by 14.89% in 2022 and by 11.66% in 2023. The average annual decline (CAGR) over the past five years stands at 9.18%. The forecast predicts a sharp drop in the cheque payments value, with a CAGR of -18.22% over the next five years, anticipating a reduction to 1.98 billion USD by 2028.

Future trends to watch for:

• The continued adoption of digital payment methods.
• Changing consumer and business preferences towards faster, more convenient payment technologies.
• Potential regulatory changes affecting cheque usage.