Indonesia's Fintech in Strong Position: Sri Mulyani

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.

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.

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.

"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.