​​Bank Indonesia urges all to “Love Noncash, Love the Rupiah” - Bank Sentral Republik Indonesia
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May 21, 2019

​​Bank Indonesia has invited the public to become better acquainted with the noncash payment system and show the Rupiah some love by hosting the “Love Noncash, Love the Rupiah” Festival, held at FX Sudirman, Jakarta from 19-21 November 2015. Bank Indonesia is cooperating with the banking industry, money changers and innovators of payment system services to come together to educate the public. The activities aim to encourage noncash payment instrument usage amongst the public, specifically e-money, due to its efficiency, convenience and security. Furthermore, the activities are also expected to nurture feelings of affection amongst the people for the Rupiah and to extend Rupiah usage to every transaction settled in the territory of the Republic of Indonesia.

In October 2015, nine banks and 11 nonbanks issued electronic money. There are currently more than 43 million instruments in circulation with a transaction volume of around 450 million and value of Rp4.3 trillion. Such conditions evidence public uptake of e-money. Most e-money transactions are low value, for example paying for parking, toll roads and transportation fares.

The Love Noncash, Love the Rupiah Festival is a follow-up event to the announcement of the National Noncash Movement (GNNT) on 14th August last year. The event represents part of four main GNNT targets, namely to shift public culture towards noncash, to expand noncash payment services, develop supporting infrastructure and align regulations.

The support of all parties is required for the National Noncash Movement, including the banks as issuers of noncash instruments, industry players, merchants and other public services sectors. Consequently, Indonesia is expected to become more familiar with the noncash payment system. ​



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