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Card payments have been growing in popularity in emerging markets even over the period 2008 to 2009. During this time, developed markets experienced negative growth (in US$) as consumers shifted payment preference to non-revolving credit instruments. Consumers’ desire to spend within the confines of their wallets and avoid debt, benefited debit cards.
Emerging market card payment growth is due, in part, to:
Indonesia’s economic climate should provide a solid foundation for future card payment growth:
Financial cards should benefit from the high spending Indonesian consumer as transactions switch from cash to card. Drivers for card payments in Indonesia in the future are as follows: