The credit card industry in Indonesia is predicted to enter a new phase this year.
General Manager Indonesian Credit Card Association (AKKI) Steve Martha reveals projected growth rate of new cards will grow about 5% per year, while the rate of credit card transaction volume will range from 10% -13% this year.
Based Payment System Statistics data released by Bank Indonesia the number of cards in circulation reached 15.97 million pieces of cards in November 2014, growing 5.83% in year to date of 15.09 million pieces of card position at the end of 2013.
"The steady growth will occur, given the limitation of the card from BI," he said, Tuesday (06/01/2015).
Meanwhile, the value of the transaction in November 2014 reached Rp229,51 trillion. Steve predicted value of the transaction in December 2014 will be slightly higher than in previous months. In 2014, the average transaction values ranging from Rp20 trillion to Rp21 trillion.
According to him, in December 2014 the value of credit card transactions will be around Rp22 trillion to Rp23 trillion. AKKI predicted growth rate of credit card transactions will range from 10% -15%.
Table Number Card Supply
Year Number of Credit Cards (Million Chips) Growth (%)
2010 12.25 10.77
2011 14.78 8.91
2012 14.81 3
2013 15.09 1.89
2014 * 15.97 5.83
Source: Bank Indonesia, processed
Remarks: * = November 2014
Source: http://lifestyle-indonesia.com/
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