Electronic Money Transaction Value Reaches Rp1.6 Quadrillion in January-August 2024

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Viva Budy Kusnandar 12/11/2024 14:15 WIB

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The accumulated value of electronic money transactions from January to August this year grew by 35.76% to Rp1.6 quadrillion, compared to Rp1.18 quadrillion in the same period last year.

Electronic Money Transaction Volume and Value (January 2021 – August 2024)

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Electronic Money Transaction Volume and Value (January 2021 – August 2024)

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Bank Indonesia (BI) reported that the volume of electronic money (e-money) transactions reached 1.84 billion transactions in August 2024. This volume increased by 4.56% compared to the previous month, which recorded 1.76 billion transactions.

Similarly, the value of electronic money transactions amounted to Rp220.87 trillion in August 2024, a growth of 3.18% compared to the previous month.

Cumulatively, from January to August 2024, the volume of e-money transactions reached 13.76 billion transactions. This figure decreased by 0.29% compared to the same period in 2023.

Meanwhile, the cumulative value of electronic money transactions from January to August this year reached Rp1.6 quadrillion, a growth of 35.76% compared to the same period last year, which was Rp1.18 quadrillion.

The largest electronic money transactions were for top-ups and purchases. The details are as follows:

* Reload/top up: Rp847.05 trillion
* Purchases: Rp372.91 trillion
* Inter-electronic money transfers: Rp350.44 trillion
* Initial (first-time top-up): Rp13.86 trillion
* Electronic money cash withdrawals: Rp8.32 trillion
* Redeem: Rp10.34 trillion

The proliferation of marketplaces, along with the shift in consumer shopping habits from offline to online, has resulted in an increase in electronic money transactions in Indonesia. Food purchases and the availability of online transportation services have also contributed to the surge in electronic money transaction values.

The number of electronic cards as of August 2024 reached 887.8 million units. 110.46 million units are chip-based electronic money, and 777.33 million are registered on the managing server.

Editor : Erlina Fury Santika

"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."

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Electronic Money Transaction Value Reaches Rp1.6 Quadrillion in January-August 2024

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