Electronic Money Transactions Soar 55% to Rp786 Trillion in 2021

Electronic money transaction values are increasing, in line with changes in consumer spending habits, shifting from offline to online. This is also driven by the emergence of e-money application services.

According to Bank Indonesia (BI) data, electronic money transactions reached Rp786.35 trillion in 2021. This figure increased by Rp281.39 trillion (55.73%) compared to the previous year, which was only Rp504.96 trillion.

By type, the largest electronic money transaction was for reloading or top-up, amounting to Rp386.57 trillion throughout last year. This figure grew by Rp133.99 trillion (53%) from the previous year.

Next, spending transactions amounted to Rp305.43 trillion. This figure increased by Rp100 trillion (49.06%) from the previous year's Rp204.9 trillion.

The next largest electronic money transaction was for cash withdrawals, amounting to Rp41 trillion in 2021. This figure grew by Rp20.43 trillion (99.25%) from the previous year.

Then, inter-electronic money transfer transactions amounted to Rp20.38 trillion throughout last year, increasing by Rp20.38 trillion (111.1%) from the previous year. This was followed by first-time user top-up transactions amounting to Rp9.05 trillion, up by Rp2.03 trillion (29%) from the previous year.

Redemption transactions amounted to Rp5.57 trillion, increasing by Rp4 trillion (262.13%) from the previous year.

The following is the number of electronic money units in circulation as of December 2021:

Total: 575.32 million units

* Server-based: 495.75 million units
* Chip-based: 79.58 million units