Premium financial services target growth in Indonesia's affluent customer segment
Jakarta (ANTARA) - The affluent customer segment in Indonesia, characterised by high purchasing power, is expected to become a primary driver of growth in the financial services industry over the coming years, with projections suggesting a more than threefold increase between 2026 and 2030.
Visa Indonesia Country Manager, Vira Widiyasari, stated that Indonesia is one of the fastest-growing affluent markets in the Asia-Pacific region. She noted that premium consumers are no longer merely seeking exclusive services, but are increasingly looking for experiences that are more relevant to their lifestyles and aspirations.
“Indonesia is one of the rapidly developing affluent markets in Asia-Pacific. Premium consumers are now prioritising truly personalised and meaningful experiences, rather than just access to exclusive services,” Varga said in a statement received in Jakarta on Friday.
Based on analysis from Visa Business and Economic Insights, which references Oxford Economics, Indonesia is projected to have approximately 173,000 households with an annual income exceeding US$100,000 by 2030.
The rising trend of high-income groups is also shifting consumption patterns. While luxury was previously synonymous with the ownership of premium goods, affluent consumers now prioritise personal, authentic experiences that align with their lifestyles.
Trends across the Asia-Pacific region also show significant growth, with the number of affluent consumers expected to grow at a compound annual growth rate (CAGR) of 8 per cent until 2030. In the Asia-Pacific region, the affluent group is increasing its spending almost three times faster than general cardholders. This increase in spending is particularly evident in the travel, culinary, entertainment, and various experience-based service sectors.
In line with these trends, Visa is updating its Visa Infinite services by introducing two new tiers: Visa Infinite Privilege and Visa Infinite Private. This update is designed to provide more personalised services, ranging from transaction convenience and access to various premium experiences to specialised services for ultra-high-net-worth individuals.
“Through the Visa Infinite update, we are providing a more flexible and relevant premium payment experience, ensuring that every cardholder can enjoy benefits tailored to their evolving lifestyles, aspirations, and needs,” said Vira.
The new Visa Infinite structure features three tiers designed to provide a more personalised premium experience according to the needs of each affluent segment. This update is supported by various intelligent payment capabilities, such as elevated transaction limits, smart authorisation, cross-border issuance, and always-active payment security systems.
This move highlights the intensifying competition among financial service providers to capture the affluent market, which is expected to continue growing and remain one of the segments with the largest contribution to premium consumption in Indonesia.