Bank Indonesia Logs Surge in Digital Banking Transaction to Rp4,944tn

TEMPO.CO, Jakarta - Bank Indonesia (BI) recorded that the value of digital banking transactions in March 2023 increased by 9.88 percent to Rp4,944.1 trillion compared to the same period last year (year-on-year/yoy).

“Digital economic and financial transactions have soared supported by a smooth and reliable payment system,” BI Governor Perry Warjiyo said in the Announcement of the BI Board of Governors' Meeting Results in Jakarta, Tuesday, April 18.

In addition, the value of electronic money transactions last month grew by 11.39 percent (yoy) to Rp34.1 trillion. The value of payment transactions using ATM cards, debit cards, and credit cards also skyrocketed by 0.45 percent (yoy) to Rp707.1 trillion.

Perry forecasted that the increase in digital economic and financial transactions will continue in line with the hike in community activities and the expansion and optimization of the user ecosystem.

The Central Bank is determined to strengthen the digitization of the payment system to boost transaction efficiency and expand the Digital Economy and Finance (EKD) ecosystem, including by implementing the Indonesian-Malaysia interstate Quick Response code Indonesian Standard (QRIS) and physical domestic Government Credit Cards (KKP) in tandem with the government and the Indonesian Payment System Association (ASPI) in line with the Indonesian Digital Economy and Finance Festival (FEKDI) in early May 2023.

Bank Indonesia along with the Coordinating Ministry for Economic Affairs and related associations planned to hold FEKDI 2023 on May 7-10 in Jakarta as part of 2023 Indonesia's ASEAN chairmanship, which showcases various digital initiatives and innovations in the archipelago.

ANTARA

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