Mandatory Non-Cash Transactions: How Much Electronic Money is in Circulation?

Based on Bank Indonesia data, throughout 2016, the number of electronic cards in circulation in Indonesia reached 51.2 million, with transaction values totaling Rp 7.1 trillion. This figure has steadily increased year-on-year. Currently, there are nine electronic money issuers in Indonesia: BCA, BNI, BRI, Bank Mega, CIMB Niaga, Bank Nobu, and Bank DKI.

The government plans to implement cashless payments at all toll gates across Indonesia this year. Toll payments will then be made using electronic money cards issued by all banks. Initially, cashless payments will be implemented at all toll gates in Jakarta, Bogor, Tangerang, and Bekasi (Jabodetabek). This program will subsequently be expanded nationwide.

Banks can build their own infrastructure to provide this service. If unable, they can collaborate with Bank Mandiri, which already possesses the infrastructure for automated toll gates (GTO) on many toll roads, especially within city limits. Since its launch in early 2009, Bank Mandiri has held exclusive rights to electronic toll payment services with its e-Toll Pas product. These exclusive rights were obtained after winning a tender from the state-owned toll road operator, PT Jasa Marga (Persero) Tbk.