jpnn.com, JAKARTA - Finance Minister Sri Mulyani has said that the financial technology (fintech) sector in Indonesia is in a strong position.
Indonesia's digital economy is the largest in Southeast Asia, as reflected by the total gross merchandise value of US$70 billion.
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Research by Google, Temasek, and Bain & Company shows that digital payments will continue to grow strongly in Indonesia, with a transaction value expected to reach US$1.2 trillion in 2025.
"We all understand that we have tremendous potential in Indonesia," said Sri.
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In addition to peer-to-peer (P2P) lending, digital payments dominate the fintech industry in Indonesia.
This, said Sri, was because of a change in the behavior of the Indonesian people amid the pandemic.
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"The digital finance sector is clearly in a very strong position and plays an increasingly important role," Sri added.
Sri Mulyani said that the value of e-money transactions in Indonesia had increased to Rp 205 trillion in 2020 from Rp 2 trillion in 2012.
"This illustrates that in less than a decade, there has been an increase of 100 times. So, we are not talking about single-digit linear growth. This is exponential," said Sri.
Therefore, the minister said, the government and regulators must continue to create a good digital environment with proper regulations. (antara/mcr20/jpnn)
This news has been broadcast on JPNN.com with the title: Sri Mulyani Sebut Fintech dalam Posisi Sangat Kuat