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People look at second-hand mobile phones and accesories sold near the Jatinegara market in Jakarta, Indonesia July 4, 2017.   © Reuters
Economy

Indonesia's mobile payments industry to enter defining year

Competition, technology and regulations bring boost to mobile payments

| Indonesia
  • The early adoption of mobile payments in Indonesia compares favorably with the take-up of earlier cashless payment systems, suggesting consumer enthusiasm.
  • A supportive regulatory environment has spurred open competition and the use of different technologies.
  • The adoption of QR codes will boost access to financial services in 2018.

Billed as the fastest growing mobile-commerce market in the world, Indonesia is poised to benefit from an explosion in mobile payment use next year. There are three main factors behind the coming surge.

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