Indonesia records 40.36% year-on-year jump in digital payment transactions
Bank Indonesia reported that digital payment transactions reached 6.11 billion in August, a 40.36% increase from a year earlier.
At a board meeting in Jakarta, Bank Indonesia Governor Destry Damayanti highlighted a 40.36% year-on-year rise in digital payment transactions, totaling 6.11 billion in August. Growth was strongest in mobile banking, which increased 47.08%, and QRIS payments, which climbed 67.22% as the network of users and merchants expanded. Internet banking also saw a 15.12% rise.
The national payment infrastructure, including the BI-FAST system, processed 549 million retail transactions, marking a 37.72% increase. Wholesale settlements via the BI-RTGS system fell 3.64% to 0.86 million transactions. Physical currency in circulation grew 12.88% year-on-year, ensuring sufficient cash availability nationwide.
Why it matters
The rapid growth of digital payments signals Indonesia's accelerating shift toward a cash-less economy.
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