Indonesian banks to attract more prepaid cards users

Indonesian banks to attract more prepaid cards users

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In recent times, the people of Indonesia are getting used to using their prepaid cards for various transactions on a daily basis. With this in mind, the biggest lenders in the country are eyeing various segments where they can attract more customers.

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Bank Mandiri – which is a money lender controlled by the state – is planning to increase the number of customers who are using prepaid cards to 4.5 million by the end of 2014, which will mark a 30 percent increase from the 3.5 million in 2013. The senior executive vice president for transaction banking at Mandiri, Rico Usthavia Frans said that the company is planning to issue prepaid cards which will help in attracting passengers of the Jakarta commuter trains.

The executive added, “We are looking to expand our prepaid business to the commuter trains by the second quarter of this year at the latest”. For the time being, the bank’s line of prepaid cards consists of e-toll, Indomaret cards, e-money and gas. Until December 2013, the total transaction volume was at 113.4 million, which helped to generate Rp 1.51 trillion for the bank in transaction value.

It was also predicted by Frans that with the introduction of many GTOs, e-toll card users of the lender will be on the rise. The cards are prepared by PT Jasa Marga, a toll road operator.

Photo Credits: Guardian