Holiday Ayo - Digitalization has given rise to new opportunities that can be exploited to increase financial and economic inclusion in Indonesia. Even digitalization is the nation's savior to get out of the Covid-19 pandemic crisis.

As cited from cnbcindonesia.com, this was conveyed by the Governor of Bank Indonesia Perry Warjiyo when delivering a speech at the G20 Presidency side event at the 2022 Indonesian Digital Financial Economy Festival (FEKDI) which took place in Bali today, Monday (11/7).

"At Fekdi, the focus is on digital, which has saved our economy during the pandemic, which is now and in the future a pillar of advanced Indonesia," explained Perry.

"With close synergy and collaboration, Indonesia has survived Covid-19 and is greatly supported by the fast pace of Indonesia's digital financial economy," said Perry again.

The rapid acceleration of digital finance in the country, said Perry, is reflected in e-commerce transactions this year, which rose 31 percent or reached IDR 536 trillion. Electronic money this year is also estimated to reach IDR 360 trillion, or an increase of 18 percent.

"Moreover, digital banking, all digital banking services, digital banking services this year are estimated to increase to IDR 51,000 trillion," explained Perry.

Bank Indonesia (BI) as the monetary authority also continues to support the digitalized payment system, last year BI launched the digitization of toll road payments and for retail transactions.

Before the Covid-19 pandemic hit, said Perry in May 2019, BI had also launched a blueprint for digitizing the Indonesian payment system.

"In five years we will digitize the payment system, because there are no economic and financial transactions that do not go through the payment system," explained Perry.

BI's achievement in digitizing payment systems is reflected in the achievement of 18.7 million merchants connected to QRIS or more than BI's target of 15 million merchants.

"89% of QRIS users are MSMEs and this year, God willing, 30 million users will be achieved and in the next three years 65 million MSMEs will be digitized," Perry continued.