Bank Indonesia Reports 140mn E-Commerce Transactions in August



Laila Afifa

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  • TEMPO.CO, Jakarta - Bank Indonesia announced an increase in the national e-commerce transaction volume and value. In August 2020, there were 140 million transactions, much bigger than last year's 80 million and 2018's 40 million.

    The central bank's principal economist for Payment System Policy Department, Agung Bayu Purwoko, revealed that the value of e-commerce transactions increased because Indonesia has 338.2 million mobile customers, 175.4 million internet users, and 160 million active social media users.

    "Compared to other countries, we have fairly strong competitiveness. In the context of payment, how payment system becomes an economic solution becomes important," he said in an online discussion in Jakarta, Wednesday, October 21.

    Agung added that the digitalization trend in Indonesia has accelerated during the Covid-19 pandemic, as people's behavior is forced to change due to social restrictions to curb the coronavirus spread. Digital adoption in Indonesia is increasing rapidly; boosting digital transaction activities in community activities.

    Not just e-commerce transactions, digital banking transactions are also increasing, especially those made via mobile banking apps. In August 2020, there were 12 million mobile banking transactions, up from August 2019's 8 million.

    Read: Digital Economy Thrives as E-commerce Transactions Grow