BI Introduces E-Money to University Students

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  • AP/Elaine Thompson

    AP/Elaine Thompson

    TEMPO.CO, Yogyakarta - Bank Indonesia's campaign on the use of electronic money (e-money) to acommodate easier, safer, and more efficient transaction, was held at the Gadjah Mada University (UGM) in Yogyakarta.

    In general, electronic money resembles an Automatic Teller Machine (ATM) card. However, e-money is not equipped with a personal identification number (PIN).

    The maximum amount of money that can be stored in an e-money card is limited to Rp 1 million and can be used to make a transaction in particular merchants.

    Arief Budi Santoso, Head of Bank Indonesia's Representative for Yogyakarta, said that non-cash financial transaction in Indonesia had only reached 40 percent out of the total financial transaction.