Jakarta (ANTARA) - President Joko Widodo (Jokowi) has highlighted that innovation in digital payments is a must to enhance digital financial inclusion, as well as bolster efficiency and transparency of government agencies.

The government's use of credit cards, facilitating procurement in the central and regional governments, and ensuring accountability in the use of the government budget, should also be enhanced, Jokowi stated.

"The key for continued growth and development is innovation and trust; innovation in the provision of digital payment systems; and security and protection for the public," he said while opening the Indonesian Digital Financial Economy Festival (FEKDI) by online means here, Monday .

The president also highlighted the urgency to enhance payment connectivity in the ASEAN region, such as through Indonesia's QR Code Indonesian Standard (QRIS) system, to bolster the regional economy and financial inclusion.

Enhancing payment connectivity in the region will also be one of the focuses of Indonesia's ASEAN Chairmanship this year, he stated.

"I hope the international QRIS and the government's credit card could bolster transactions of MSMEs by enabling the purchase of domestic products and expanding access to the international market," Jokowi affirmed.

The president called to optimize Indonesia's digital economy and finance to be the source of new economic growth, considering that the market share in the country alone reaches 40 percent of the total digital economic transactions in the ASEAN.

Indonesia's internet penetration level currently stands at 76.8 percent, and with 2,400 start-ups, Indonesia has the sixth most number of start-up companies in the world, he noted.

He added that Indonesia's digital economy value is projected to reach US$130 billion by 2025 and US$315 billion by 2030.

Hence, innovations in the digital payment system must be conducted prudently by considering all security risks and consumer protection, and its risk mitigation must be considered thoroughly, Jokowi said.

"I ask all ministries, government agencies, and regional authorities to use the government's credit cards and support the expansion of QRIS abroad to accelerate the growth of our inclusive digital economy and finance," the president remarked.

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Translator: M Baqir Idrus A, Nabil Ihsan
Editor: Anton Santoso
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