Value of Indonesian Electronic Money Transactions, Q1 2009 - Q3 2024

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Adi Ahdiat 10/12/2024 18:47 WIB

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According to Bank Indonesia data, the national value of electronic money transactions reached Rp652 trillion in the third quarter of 2024, setting a new record high.

Value of Indonesian Electronic Money Transactions per Quarter (Quarter I 2009 - Quarter III 2024)*

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Value of Indonesian Electronic Money Transactions per Quarter (Quarter I 2009 - Quarter III 2024)*

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The use of electronic money or e-money in Indonesia continues to strengthen, as evidenced by its increasing transaction value.

According to Bank Indonesia (BI) data, in Q1 2009, the national transaction value of electronic money was only Rp74.82 billion.

This figure includes the value of transactions for purchases, inter-e-money transfers, initial balance loading, top-ups, and others.

Thereafter, transactions increased, albeit slowly, as shown in the graph.

Indonesia's electronic money transaction value only reached Rp1 trillion in Q1 2013, exceeded Rp10 trillion in Q4 2017, and surpassed Rp100 trillion in Q1 2019.

Then, since the 2020 pandemic, the growth rate of transactions has strengthened, reaching Rp652 trillion in Q3 2024, the highest record since BI's initial recording.

This year, electronic money also has a stronger growth rate than ATM/debit cards, although its transaction value is still smaller.

According to BI data, during the January-September 2024 period, the national electronic money transaction value reached Rp1,820 trillion, a 35.95% increase compared to January-September last year (cumulative-to-cumulative/ctc).

During the same period, the transaction value of ATM/debit cards decreased by 7.49% (ctc) to Rp5,421 trillion.

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."