"Of that total, 90 percent were MSMEs," BI Governor, Perry Warjiyo, delivered the statement at the opening of the 2022 Indonesian Digital Economy and Finance, which was also a G20 side event hosted in Nusa Dua, Bali, on Monday.
Warjiyo targeted that this year, some 30 million merchants and users will use QRIS, with the aim of increasing the figure to up to 65 million in the coming three years.
Through extensive collaborative efforts, Indonesia managed to save itself from the looming threats of the COVID-19 pandemic on top of digital economy and finance further backing up the efforts.
Warjiyo also pointed out that the development of e-commerce in Indonesia reflected that fact. This year, it went up to 31 percent, amounting to Rp 536 trillion (US$35.8 billion), and electronic money this year was estimated to reach Rp 360 trillion (US$ 24 billion), or an increase of 18 percent.
Related news: BI targets 15 million merchants to utilize QRIS in 2022
Moreover, all digital banking services would increase to Rp51,000 trillion (US$3.4 trillion), or an increase of 26 percent.
"This development can improve our economy. Electronification of social assistance and regional financial transaction as well as modes of transportation, (all of which are part of) digitalization, synergy, and collaboration to get things done," he stated.
On the other hand, the central bank had also established the Indonesian digitalization payment system blueprint in 2019 that aligned with President Joko Widodo's directives to initiate financial and economic digitalization in the country.
They also launched BI Fast Payment as a means to conduct retail transactions in an effective and efficient manner that turned out to be immensely beneficial to Indonesia during the COVID-19 pandemic. This year, they would also work with ASEAN-5 countries to develop international QRIS, fast payment, and local currencies.
"This is how Bank of Indonesia fully supports the efforts to conduct digitalization in payment in order to promote national economic and financial digitalization," he concluded.
Related news: G20 GPFI delegates visit MSME exhibition, try QRIS payment
Related news: BI encourages QRIS utilization at five traditional markets in Papua
Translator: Agatha O V, Mecca Yumna
Editor: Suharto
Copyright © ANTARA 2022
