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Oleh Penni Patmawati Rusman, Selasa, 29 September 2020 | 19:03 WIB - Redaktur: Penni Patmawati Rusman - 666
Jakarta, InfoPublik—Bank Indonesia’s (BI) Communication Department Executive Director Onny Widjanarko said that the smooth operation of the payment system, both cash and non-cash instruments, is maintained.
Currency in Circulation (UYD) growth in August 2020 was recorded at Rp762.1 trillion, decreased from its 6.17 percent (yoy) in July 2020 to 5.82 percent (yoy. In line with this, the growth in the value of non-cash transactions of ATMs, Debit Cards, Credit Cards and Electronic Money (EU) also recorded a contraction of 13.94 percent (yoy) in July 2020.
"However, there is an increase in the value and volume of transactions caused by a shift in people's preferences to use digital instruments," said Onny in a press release received on Monday (28/9).
He added that EU transaction value growth remained strong in July 2020, at 24.42 percent (yoy), while the volume of digital banking transactions also experienced high growth of 38.81 percent (yoy) in July 2020.
According to him, Bank Indonesia predicts various payment system transactions to experience another increase in line with the prospects for economic recovery and positive developments in various innovations in digital economic and financial activities.
He explained, the increasing collaboration between digital economic and digital finance players, including banks and non-banks, through the use of application programming interfaces (API) indicates a very good industry response to Bank Indonesia's efforts to carry out an inclusive digital transformation through Indonesia Payment System Blueprint 2025 (BSPI), including strengthening the digitization of MSMEs.
"In the future, Bank Indonesia will continue to accelerate the implementation of the BSPI by improving infrastructure, regulating and providing relevant incentive mechanisms through the Payment System Policy, including continuing to support the effectiveness of various Government programs for the National Economic Recovery," he concluded.
Reporter: Isma, Translator: Penni P. Rusman
