ATM and Debit Card Growth Continues Amidst the Digital Trend

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Viva Budy Kusnandar 26/04/2022 16:30 WIB

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The number of Automated Teller Machines (ATM) cards and debit cards has shown an upward trend over the last decade.

ATM and Debit Card Growth (January 2013 - February 2022)

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ATM and Debit Card Growth (January 2013 - February 2022)

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Despite the strengthening trend of digital finance, the number of Automated Teller Machine (ATM) cards and debit cards has continued to grow over the last decade, as shown in the graph.

Based on data from Bank Indonesia (BI), the number of ATM and debit cards reached 232.11 million units in February 2022, a 6.49% increase compared to February 2021 (year on year/yoy).

The number of ATM and debit cards in circulation in February 2022 was also the highest in history.

Increased Cash Withdrawals and Spending

Not only the number of cards, but also the volume of ATM and debit card transactions showed a 3.49% (yoy) growth, reaching 551.26 million transactions in February 2022.

Broken down by type, the volume of cash withdrawals via ATM and debit cards grew by 11.59% (yoy) to 344.75 million transactions. Meanwhile, the value of cash withdrawals grew by 28.56% (yoy) to Rp577.18 trillion.

The volume of cash spending also grew by 38.92% (yoy) to 76.31 million transactions in February 2022, while the value of cash spending transactions grew by 35.4% (yoy) to Rp32.38 trillion in the same period.

Decreased Transfer Transactions

On the other hand, the use of ATM and debit cards for money transfers has decreased.

The volume of intra-bank transfers using ATM and debit cards decreased by 29% (yoy) to 86.74 million transactions in February 2022. The value of intra-bank transfers also decreased by 22.05% (yoy) to Rp163.48 trillion in the same period.

Furthermore, the volume of interbank transfers decreased by 6.86% (yoy) to 43.46 million transactions, while the value of interbank transfers decreased by 13.5% (yoy) to Rp84.91 trillion in the same period.

The activity of money transfers using ATM and debit cards is estimated to have been eroded by the emergence of digital financial services such as mobile banking, which makes it easier for consumers to make transfers via smartphones.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."