2017, Electronic Money Transactions Grew by 60 Percent

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07/12/2017 07:27 WIB

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2017: Electronic Money Transactions Grew by 60 Percent.

Electronic Money Transaction Value 2010-October 2017

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Electronic Money Transaction Value 2010-October 2017

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The Indonesian government's policy to promote cashless transactions by encouraging a cashless society has driven the growth of electronic money transactions. Developments in digital financial technology, coupled with the behavior of today's children, often referred to as "Kids Jaman Now," who always prefer convenience in purchasing and payments, will also boost cashless transactions.

Based on Bank Indonesia data, the value of e-money transactions from January to October 2017 increased by 60 percent to Rp 8.77 trillion, compared to Rp 5.48 trillion in the same period the previous year. Similarly, the number of e-money units in circulation also grew by 48 percent to 75 million units from 51.2 million units at the end of the previous year.

"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."