Volume Of Debit Card Transactions Muamalat Grows 29 Percent In 2022

JAKARTA PT Bank Muamalat Indonesia Tbk recorded an increase in volume growth and transaction value of the Shar-E debit card throughout 2022.

Plt. President Director of Bank Muamalat Hery Syafril said the number of Bank Muamalat debit cards currently circulating is almost 600 thousand cards.

The total volume of Bank Muamalat debit card transactions as of December 31, 2022, is more than 1 million transactions or grew by 29 percent year on year (yoy).

"The volume yields a transaction value of more than IDR 500 billion or grew 23 percent (yoy). The highest transaction occurred in December 2022 with a transaction value of around IDR 60 billion and a transaction volume of more than 100 thousand transactions," said Hery in an official statement, Saturday, February 25.

Hery explained that the increase in transactions throughout 2022 was driven by a number of factors. Among them is the improvement of the feature on debit cards that can be used to transact online via the VISA network (specifically the VISA logo card).

Bank Muamalat debit cards in addition to being able to be used for offline transactions through EDC merchants and online (e-commerce and online shops) as well as cash withdrawals across VISA networks at home and abroad.

For information, the security feature on the online debit of the Shar-E card has been certified by VISA (Verified by VISA Secure Code). The transaction security in this feature uses 3D Secure technology with One Time Password (OTP) validation in the form of 6-digit PIN sent via SMS. OTP's goal is to ensure transaction security between merchants and customers as if the two transact face-to-face.

Hery also detailed in general the steps to make payments using the online debit feature as follows, first choose the payment method (debit card). Second, enter the debit card data listed on the front of the card. The third is to enter the OTP code in the form of a 6-digit PIN received by customers via SMS to the mobile phone number registered at Bank Muamalat.