E-Money Transactions Reach Rp5.2 Trillion, Bank Indonesia Says

Jakarta, 6 Jumadal Awwal 1437/15 February 2016 (MINA) – Electronic money (e-money) transactions conducted in the country in 2015 reached Rp5.2 trillion in value, up from Rp4.3 trillion in 2014, Governor of Bank Indonesia(BI) Agus Martowardojo said.

“In 2009, electronic money transactions were valued at about Rp520 billion only, and now they have reached Rp5.2 trillion (about USD 390 million),” the central bank governor said while opening the National Non-Cash Movement (GNNT) in Kupang, the provincial capital of East Nusa Tanggara (NTT) here on Saturday.

Agus said the non-cash transaction system, either using prepaid cards, credit cards or electronic money, is very useful because it makes the financial system more efficient, Mi’raj Islamic News Agency (MINA) reported, quoting Antara News.

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With non-cash transactions, the state could reduce the use of banknotes and coins, making transactions more efficient and saving money on printing currency.

“We are convinced that the non-cash system would be safer, more practical and more efficient,” Agus said.

After all, the non-cash payment system can be used widely, such as while purchasing cellular phone minutes, shopping at malls or paying electricity and tap water bills.

He said the e-commerce and non-cash transactions are predicted to continue to increase.

“Non-cash payments could also be for online-transactions, resulting in efficient usage of time and economizing,” he added. (T/R07/R01)

Mi’raj Islamic News Agency (MINA)