Fantastic, Bank Indonesia Records Digital Banking Transactions Of Rp3,877.3 Trillion As Of November

Buyers make payments electronically at Pos Block, Jakarta, Friday 19 December. (Intermediate Photo)

JAKARTA - Bank Indonesia recorded that digital banking transactions reached IDR 3,877.3 trillion from January to November 2021, an increase of 47.08 percent when compared to the same period the previous year (year on year / yoy).

"Economic transactions and digital finance are growing rapidly in line with the increasing acceptance and preference of the public in online shopping, the expansion and convenience of digital payment systems, as well as the acceleration of digital banking," said BI Governor Perry Warjiyo in announcing the results of the December 2021 Board of Governors Meeting in Jakarta , Thursday 16 December.

In addition, the value of electronic money transactions (EU) grew by 61.82 percent (yoy) to reach IDR 31.3 trillion in November 2021.

Therefore, BI will continue to expand the digitization of the payment system to accelerate the integration of the digital economy and finance ecosystem, including to encourage an inclusive financial economy and economic growth.

Perry said the value of payment transactions using ATM cards, debit cards and credit cards also grew by 8.39 percent (yoy) to Rp674.9 trillion.

"Bank Indonesia continues to maintain the smoothness and reliability of the payment system and supports government programs through coordination and monitoring of trials for digitizing social assistance (Bansos) 4.0, local government financial transactions, and electronification of transportation modes," he stressed.

On December 21, 2021, he said that his party would launch BI-FAST as a retail payment infrastructure that is real time and operates non-stop.

On the cash side, currency in circulation (UYD) in November 2021 increased by 7.81 percent (yoy) to reach Rp.867.8 trillion.

Bank Indonesia will continue to digitize rupiah currency management in cash services to provide services to the public safely and comfortably in the new normal era and ensure the availability of money circulating throughout Indonesia.