Indonesia’s payment infrastructure market is expected to reach $127.32 billion in 2026, up 12.98% from $112.69 billion in 2025, according to Mordor Intelligence.
The market is projected to grow at a compound annual rate of 9.83% between 2026 and 2031, reaching $203.47 billion within five years.
Growth is being driven by the wider adoption of QRIS among merchants and the rapid uptake of BI-FAST, Indonesia’s real-time payment rail. A shift away from traditional hardware towards cloud-native systems is also contributing to the expansion.
E-money is expected to play an increasingly important role. Super-app ecosystems have made digital wallets part of everyday transactions by embedding them into ride-hailing, e-commerce and food-delivery services.
Mordor Intelligence said the network effects created by these platforms could allow e-money to overtake cards as Indonesia’s preferred payment instrument before 2031.
Card-based payments still accounted for 43.89% of transaction volume in 2025. However, e-money grew faster than every other payment instrument, recording an 11.21% compound annual growth rate.
There is also room for further expansion among Indonesia’s unbanked population, particularly in Papua and Maluku.
Agent networks are helping close this gap by bringing payment services closer to communities. Small kiosks are increasingly being used as cash-in points, giving consumers access to digital payment systems even in areas with limited formal banking infrastructure.
