Electronic Money Transactions Increase by 58 Percent from January to July 2017

The Indonesian government's policy to encourage cashless transactions has caused the value of e-Money (electronic money) transactions to surge by 57.87 percent in the January-July 2017 period compared to the same period the previous year. Bank Indonesia data recorded that electronic money transactions throughout January-July 2017 reached Rp 5.9 trillion, compared to Rp 3.74 trillion in the same period the previous year.

By July 2017, 69.46 million units of e-Money were in circulation, an increase of almost 70 percent compared to July 2016. Similarly, the electronic money infrastructure network also increased by 21.44 percent to 455,227 units from 374,861 units previously.

Meanwhile, the volume of electronic money transactions throughout January-July 2017 increased by 16.53 percent to 416.9 million transactions from 357.75 million transactions previously.