Jakarta, CNN Indonesia –
Senior Vice President (SVP) Transaction Banking Retail Sales PT Mandiri Bank (Persero) Tbk Thomas Wahyudi projects that the Cash Recycling Machine (CRM) will still thrive in Indonesia to replace the ATM.
CRM is considered the key because according to him it can answer the need for currency in the community but is also practical and fast without having to use a teller service to deposit and withdraw money.
Public dependence on physical money was reflected in the high growth in currency circulation. Quoting Bank Indonesia data, he said that as of July 2020, the growth of currency in circulation had increased by 10.5 percent or the equivalent of IDR 6.56 trillion annually (year-on-year / yoy).
“Indeed we at the bank encourage cashless society but currency is still growing, the role of CRM is still relevant, “he said in an online discussion entitled ‘Jalin Ngopi Volume 2’, Saturday (3/10).
Apart from currency, electronic money transactions also recorded a rapid increase, growing 24.42 percent or Rp16.1 trillion in July 2020 compared to the previous year.
He assessed that these two transaction models will grow rapidly in the future, replacing other alternative transactions such as debit / credit cards, digital banking or ATM use.
In agreement, the Director of PT Argenta Akhila Utama-OKI Ferry Jantho assessed that changing people’s habits from relying on cash transactions to electronic money will not be easy.
Although dependence on currency has continued to decline from around 90 percent in 2013 to 75 percent in 2018, she believes that this figure is not too large.
From the data it has, it was recorded that the money in circulation throughout 2019 was around Rp. 6,100 trillion and that circulating in the community at the end of 2019 was Rp. 654 trillion.
“This is a necessity, the future is definitely CRM yes, it will always increase. Why should CRM? Because it can be deposited and withdrawn,” he said.
He also saw the trend of the rapid growth of digital transactions. Since 2019, there has been a surge in the volume of e-wallet transactions. The peak in December 2019, there were 515.19 million transactions that took place with a nominal transaction of IDR 16.9 trillion.
The increase, he continued, almost doubled when compared to 2018, which only recorded 2-3 million transactions throughout the year. Meanwhile, throughout 2019, there were more than 5 million digital transactions.
(yes / dea)
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