Electronic Money Reader Machines Surge Two-Fold in 2022

The widespread use of electronic money (e-Money) in transactions has fueled a surge in the number of e-money reader machines. This is due to new habits formed during the Covid-19 pandemic, which led many to conduct transactions online or electronically to avoid viral transmission.

Many food and beverage establishments have adopted electronic money for payments. Furthermore, transportation services in major cities have also implemented electronic money systems.

According to Bank Indonesia (BI) data, the number of e-money reader machines grew by 101.37%, or doubled, to 1.39 million units at the end of 2022 compared to the end of 2021.

In contrast, the number of e-money reader machines was only 98,000 units at the beginning of 2013. Usage showed an upward trend until early 2019, followed by a decline as shown in the graph.

However, after the Covid-19 pandemic subsided, the use of e-money reader machines increased again, reaching 1.4 million units spread throughout Indonesia.

Meanwhile, the number of Electronic Data Capture (EDC) machines decreased by 2.87% to 1.71 million units at the end of last year compared to the end of the previous year.