BI: Digital Banking Transactions Increase 9.88 Percent to IDR 4,944.1 Trillion

Armfalcon.com, JAKARTA – Bank Indonesia (BI) noted that the value of digital banking transactions in March 2023 increased 9.88 percent compared to the same period last year (year-on-year/yoy) to IDR 4,944.1 trillion.

“Digital economic and financial transactions have increased supported by a smooth and reliable payment system,” said BI Governor Perry Warjiyo in the Announcement of the Results of the BI Board of Governors’ Meeting in Jakarta, Tuesday (18/4/2023).

In addition, the value of electronic money transactions (EU) last month also grew by 11.39 percent (yoy) to reach IDR 34.1 trillion. The value of payment transactions using ATM cards, debit cards and credit cards also rose 0.45 percent (yoy) to IDR 707.1 trillion.

Going forward, Perry estimates that the increase in digital economic and financial transactions will continue in line with the increase in community activities and the expansion and optimization of the user ecosystem.

BI will strengthen the digitization of the payment system to increase 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 close coordination with government and the Indonesian Payment System Association (ASPI) together with the Indonesian Digital Economy and Finance Festival (FEKDI) in early May 2023.

The Central Bank together with the Coordinating Ministry for Economic Affairs and associations will hold FEKDI 2023 on 7-10 May 2023 in Jakarta as part of the 2023 ASEAN Chair activities, which showcase various digital initiatives and innovations in Indonesia.

In terms of managing rupiah currency, he said the amount of currency in circulation (UYD) in March 2023 increased by 6.73 percent (yoy) to reach IDR 948.8 trillion.

BI continues to ensure the availability of rupiah currency with maintained quality throughout the territory of the Unitary State of the Republic of Indonesia (NKRI) through the Lively Rupiah Ramadhan and Eid al-Fitr (SERAMBI) 2023 program by strengthening cash services to the public through banking and BI, as well as providing money exchange service locations at various points of crowds and homecoming routes.

source : Between