Indonesia: payment automation transactions by industry 2022

In 2022, there were approximately 12.9 billions bank transactions recorded in Indonesia. Banks had the biggest market size based on payment automation transactions in the country. The same survey found that the estimated market size from banks in that year was over 428 million U.S. dollars.

Number of payment automation transactions in Indonesia in 2022, by industry (in millions)

Characteristic	Number of transactions per year in millions
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Release date

November 2022

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Region

Indonesia

Survey time period

2022

Supplementary notes

According to the source, this section describes how the Open Finance market size estimation is calculated. To do this, some assumptions are made:
1) having a specific time period for data retention and companies having to renew their data connection within that period
2) how often data access is renewed per year is measured by the velocity - for example, if data access has to be renewed once every month, then the velocity is 12
3) the fees are the assumption fees for the Open Finance services, which the assumed exchange rate used is 1 USD = IDR 15,000.
The data used to make these calculations comes from various sources, including OJK, BI, BPS, LPS, CEIC, Databoks, media interviews, and data from industry leaders.

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