Jakarta, CNBC Indonesia – The widespread availability of digital payment systems has encouraged the use of currency, both paper money and coins, being increasingly abandoned by the Indonesian people, meaning that the ‘doomsday’ for paper money is getting closer.
Governor of Bank Indonesia (BI) Perry Warjiyo revealed that digital economic and financial transactions are growing rapidly in line with the increasing acceptance and preference of the public in online shopping, expansion and digital payment systems, and acceleration of digital banking.
BI reported that in November 2021 the value of electronic money transactions grew 61.82% or reached Rp. 31.3 trillion and the value of digital banking transactions increased by 47.08% or reached Rp. 3,877.3 trillion.
“The value of payment transactions using ATM cards, debit cards and credit cards also grew by 8.39% (yoy) to Rp 674.9 trillion,” said Perry at a press conference, Thursday (16/12/2021).
Perry said BI will continue to maintain the smooth and reliable payment system and support Government programs through coordination and monitoring of the digitalization trial for social assistance (bansos) 4.0, local government financial transactions, and electronification of transportation modes.
On the same occasion, BI Deputy Governor Sugeng revealed that the volume of transactions through the QR Code payment system (QRIS) from the beginning of the year until today or year to date, reached 316 million transactions, with a value of Rp. 23 trillion (year to date).
Sugeng said that in the future the role of QRIS will be expanded, but this year will still focus on intensifying the use of QRIS in traditional markets and shopping centers.
“In Maluku to Aceh in the future, we will develop it to help upper middle class transactions, review the amount to be useful for upper middle class consumption and leisure activities,” he said.
The use of QRIS as well, said Sugeng, will develop and will make it easier for the public to pay taxes.
(cap/me)
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