Indonesia's financial technology (Fintech) transaction value in 2016 was estimated at US$14.5 billion, equivalent to Rp190 trillion. This represents 0.6 percent of the estimated global transaction value of US$2,355.9 billion. Singapore's Fintech transactions amounted to US$10.6 billion.
Meanwhile, the per capita Fintech transaction value in Indonesia was US$56.98. This is significantly lower than Singapore's US$1,938 per capita. However, Indonesian Fintech has the potential for growth, considering President Joko Widodo's digital economy vision to make Indonesia the center of transactions in Southeast Asia.
Fintech is a phenomenon that combines technology with financial features. As an innovation in the financial sector providing financial transactions, Fintech has evolved into a more practical and secure service.
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