Digital Financial Transaction Value Shows Strong Growth in April 2022

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Dzulfiqar Fathur Rahman 31/05/2022 11:00 WIB

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Bank Indonesia reported that the value of electronic money transactions grew by 50.3% to Rp34.3 trillion in April from the previous year.

Annual Growth of Electronic Money and Digital Banking Transaction Value (April 2022)

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Annual Growth of Electronic Money and Digital Banking Transaction Value (April 2022)

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According to a report by Bank Indonesia (BI), the transaction value of electronic money and digital banking grew rapidly in April 2022, in line with the continued growth of the digital economy during the Covid-19 pandemic.

BI Governor Perry Warjiyo stated that the transaction value of electronic money grew by 50.3% (year-on-year/yoy) to Rp34.3 trillion in April 2022 compared to the previous year.

The transaction value of digital banking also grew by 71.4% (yoy) to Rp5.33 quadrillion in the same period.

"Digital economic and financial transactions are developing rapidly, driven by increasing public acceptance and preference for online shopping, the expansion and ease of digital payment systems, and the acceleration of digital banking," said Perry in his press release on Tuesday (24/5/2022).

During the Covid-19 pandemic, the digital economy grew due to the emergence of new habits, such as working and shopping from home.

Google, Temasek, and Bain & Co estimate that the gross merchandise value (GMV) of Indonesia's digital economy grew by 49% during the 2020-2021 period. In 2025, its value is projected to increase by another 20% compared to 2021.

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."

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