Visa, a global leader in digital payments, is reinforcing its support for Indonesia's digital economic transformation by offering cutting-edge payment solutions. Evolving beyond its traditional credit and debit card networks, Visa now provides a range of digital payment services catering to financial institutions, fintech startups, and businesses from small enterprises to large corporations.

This initiative aligns with Bank Indonesia's Payment System Blueprint 2030 (BSPI 2030), which focuses on building a robust, secure, and integrated payment system to strengthen Indonesia's digital economy. Visa contributes by enhancing both card-based and non-card-based payment methods, simplifying money transfers, and boosting business growth through digital payment solutions across Consumer Payments, Commercial and Money Movement Solutions, and Value Added Services including Risk & Identity solutions for fraud prevention.

According to Vira Widiyasari, Country Manager of Visa Indonesia, several key trends will shape digital payments in 2025.

First, mobile internet penetration is projected to reach 70% of Indonesia's population by 2025. This surge fuels the rise of online transactions, with the e-commerce sector expected to grow by 130% by 2030. To meet this demand, Visa offers features like Click to Pay, integrating payment options directly into checkout buttons, and Visa Subscription Management, allowing consumers to manage recurring payments through their bank accounts without the need for repeated top-ups.

Second, Southeast Asian travelers are showing a preference for regional destinations, including Indonesia. This trend opens opportunities to attract tourists from neighboring countries like Malaysia, Singapore, and the Philippines. Visa supports this by strengthening cross-border payment solutions, partnering with banks to enhance contactless payment acceptance, and promoting Indonesian tourism through targeted marketing campaigns.

The third trend focuses on integrated B2B and cross-border payments. The growing adoption of commercial payments among businesses stems from the need to automate internal payment processes and manage corporate finances efficiently. Visa's Commercial Solutions offer corporate credit and debit cards with B2B acceptance, combined with an expense management platform to monitor company expenses and strengthen financial ecosystems.

Additionally, Visa Direct facilitates fast and affordable cross-border fund transfers, supporting both B2B (via bank and fintech partners) and P2P transactions. This solution benefits SMEs involved in exports and individuals sending or receiving money from abroad.

Finally, Visa addresses rising online fraud risks. According to Visa, online transactions face a 7.5 times higher fraud risk compared to offline ones. The Visa Consumer Authentication Service (VCAS) uses AI-powered analysis and biometric authentication to enhance fraud detection and reduce reliance on passwords and PINs, ensuring secure yet seamless transactions.

Beyond payments and security, Visa provides holistic support through Visa Managed Services (VMS), offering tailored consultation, training, and implementation assistance for its partners to maximize the effectiveness of Visa’s digital solutions.

"Through these strategic innovations, Visa continues to support Indonesia in strengthening its position in the global economy by providing easy, secure, and inclusive digital payment solutions, transforming how Indonesians transact, shop, and conduct business," said Vira.

PHOTO: VISA

This article was created with AI assistance.