Indonesia’s Digital Payment Splendor Amid Stuttering Regulations
- As of the third quarter of 2019, 39 digital payment issuers have obtained licenses from Bank Indonesia. Most of them are server-based, while chipset-based providers are getting left behind.
- Since 2015, the electronic money transaction volumes have exceeded that of credit cards, although the transaction values were still lower, as of October 2019. Yet, the difference is getting narrower.
- GoPay vs. OVO competition is getting tougher. Yet, LinkAja development may proliferate as it is supported by government-owned infrastructure, both in the financial and transportation sector.
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