People Needs Incentives Switch to E-Money

By : Herry Barus And Aldo Bella Putra | Thursday, September 21 2017 - 19:00 IWST

Ilustrasi e-money. (Foto: Istimewa)
Ilustrasi e-money. (Foto: Istimewa)

INDUSTRY.co.id - Jakarta- People needs more incentives from Bank Indonesia and the banking industry to switch to non-cash payments using electronic money, rather than policies that impose additional costs, an economist said.

Bhima Yudhistira Economist Institute for Development of Economics & Finance (INDEF) in Jakarta, Wednesday (20/09/2017), cited in Hongkong, the company or the bank of electronic money issuers and transport service operators bear all the investment costs of electronic money infrastructure through the scheme of "sharing cost ".

The scheme of "sharing cost" with the transport operator is actually reducing the burden of the card issuing bank costs, so the bank can provide a price discount to the consumer.

"Even with the 'sharing cost' the consumer can get a rebate. This incentive makes 95 percent of Hong Kong residents use electronic money Octopus card," said Bhima via telephone.

Therefore, Bhima said, it is not appropriate if the community will still be charged the contents of electronic money balances, both on off-us routing transactions (outside the issuer's bank infrastructure) and on-us routing.

The reason, he said, when buying electronic money, people have to spend. The cost of purchasing the initial electronic money also includes the margin enjoyed by the bank as revenue.

News Comment

Today's Industry

"CLEO", PT Sariguna Primatirta Tbk (Tanobel Group)

Sabtu, 23 September 2023 - 11:33 WIB

Growing Above Industrial Average, CLEO Strives for Innovation

Producer of bottled drinking water with the brand "CLEO", PT Sariguna Primatirta Tbk (Tanobel Group) targets its sales in 2023 to grow above the average of the bottled drinking water (AMDK)…

PT Inocycle Technology Group Tbk ("INOV")

Kamis, 14 September 2023 - 15:15 WIB

INOV Poised to Absorb PET Recycling Market Potential

The prospects of PT Inocycle Technology Group Tbk ("INOV") a public company in the field of recycling plastic (PET) bottle waste into Recycled Polyester Staple Fiber (Re-PSF), looks bright for…

Participants of the 43rd ASEAN Summit enjoy the gala dinner at Hutan Kota GBK in Jakarta, Wednesday (09/06). (Photo by: BPMI of Presidential Secretariat)

Senin, 11 September 2023 - 09:07 WIB

Indonesian Cuisine, Cultural Performances Enliven Gala Dinner of 43rd ASEAN Summit

President Joko “Jokowi” Widodo and First Lady Iriana Jokowi hosted a gala dinner for leaders of ASEAN member states, partners, and international organizations at Hutan Kota restaurant in…

President Jokowi and Secretary-General of the United Nations António Guterres, Jakarta, Thursday (09/07). (Photo by: BPMI).

Senin, 11 September 2023 - 07:45 WIB

ASEAN, UN to Enhance Cooperation in Maintaining Regional Peace

On the margin of the 43rd ASEAN Summit, President Joko “Jokowi” Widodo Thursday (09/07) hosted Secretary-General of the United Nations António Guterres in a bilateral meeting at the Kakatua…

President Jokowi shakes hands with PM of Japan Fumio Kishida at JCC in Jakarta, Thursday (09/07). (Photo by: BPMI of Presidential Secretariat)

Senin, 11 September 2023 - 06:40 WIB

Indonesia, Japan Agree to Raise Partnership Status to Comprehensive Strategic

Indonesia and Japan have agreed to raise the partnership status of the two countries to strategic comprehensive, President Joko “Jokowi” Widodo has said.