BI Estimates Digital Transactions To Increase 14 Times To 10.05 Billion By 2030

Director of the Payment System Policy Department Ryan Rizaldy. (Aris Nurjani / VOI)

NUSA Dua - Bank Indonesia (BI) estimates that digital transactions in 2030 can increase 14 times to 10.05 billion transactions from 600 million transactions per year.

Director of the Payment System Policy Department Ryan Rizaldy said the increase in the number of digital transactions was supported by generations Y and Z, which are currently dominant in using payment systems with digital transactions.

"They will be increasingly dominant in their role in the economy until 2030. In fact, there will be an alpha generation, so it will determine the taste or preferences of paying," Ryan said in Media Briefing, quoted Friday, August 23.

According to Ryan, this will drive the increase in digital transactions by 14 times plus the economic prospects that are expected to improve in the future.

Ryan said that although it is estimated that it will increase 14 times, it must still be balanced with machines and technology that can offset the increase in the number of digital transactions, such as adjusting the infrastructure and synergy.

"It is impossible to be borne alone by BI fast or maybe the infrastructure run by the private sector is like that," he said.

According to Ryan, the estimated increase in digital transactions if only BI works alone, it will not be sustainable. So there must be good synergy between Bank Indonesia and industry.

"So this is our first motivation. That at this time we need strengthening in infrastructure to be able to answer the increase in transactions which we estimate will increase 14 times until 2030," he explained.

Therefore, Ryan said that the innovation could not stop both in the back end and front end payment systems.

"Well, this innovation must be responded to very quickly in order to ensure the process of circulation of money, the flow of money can be managed in a well-organized manner, the risks must be properly mitigated," he explained.