JAKARTA – Bank Indonesia (BI) reported significant growth in digital economic and financial transactions throughout 2024, supported by a secure, smooth, and reliable payment system. This growth was driven by increased transactions via QRIS and BI-Fast.

Perry Warjiyo, Governor of Bank Indonesia, stated that digital payments in 2024 recorded a total of 34.5 billion transactions, growing by 36.1% year-on-year (yoy). This growth was evident across all components of digital transactions.

"Mobile application transaction volumes grew by 39.1% yoy, while internet transactions increased by 4.4% yoy. Digital transactions via QRIS surged by 175.2% in the same period, driven by the rise in users and merchants," he said during a press conference on the Board of Governors Meeting, Wednesday (15/1).

In terms of infrastructure, BI-Fast posted impressive performance, with retail transaction volumes growing 62.4% yoy, reaching 3.4 billion transactions with a value of IDR 8.9 trillion.

Meanwhile, large-value transactions through BI-RTGS increased by 3.1% yoy to 10.3 million transactions, with a value of IDR 126.3 trillion, up by 17.6% yoy.

"Digital payments are projected to grow by 52.3% in 2025. BI-Fast transaction volumes are expected to rise by 34.1%, while the value of BI-RTGS transactions is forecasted to grow by 11.4% yoy," he added.

Warijyo emphasised BI's commitment to ensuring the availability of sufficient and fit-for-circulation Rupiah currency throughout Indonesia, including in 3T regions (Frontier, Outermost, Remote areas).

"Bank Indonesia continues to support the strengthening of digital transactions and ensure the stability of the payment system as part of the national digital economic transformation," he concluded. (DK/ZH)