Imposing E-Money Content Fee Can Be Counterproductive

INDUSTRY.co.id - Jakarta - Bhima Yudhistira, an economist at the Institute for Development of Economics & Finance (INDEF), said that the decision by Bank Indonesia to allow banks to charge electronic e-money could contradict efforts to encourage people to intensify non-cash transactions.

"Initially had asked the community more actively use electronic money and encourage non-cash movement, but now it is charged," said Bhima asked his comments on the BI Board of Governors Regulation related to the cost of electronic money balance, in Jakarta, Thursday (21/09/2017)

Bhima said that the imposition of the cost could be a disincentive, especially ahead of the implementation of electronification of 100 percent payments of toll services on October 31, 2017. The charge of the content balance is feared to make people reluctant to use electronic money and return to cash transactions.

Supposedly, he said, BI and the banking industry provide incentives for the community because, so far, banks have benefited from the sale of electronic currency card prime.

"Should the profit from the sale of e-money 'starter' card no longer need to charge the cost of the balance although only Rp1.000 once transaction," he said.

Better, he said, BI and banking electronic money publishers and transport service operators or operators in other real sectors put forward the scheme of sharing the burden of investment cost of electronic money infrastructure. It's like what happened in Hongkong. That way, the burden of the cost borne by banks can be reduced so it can actually give a discount to the community.

The scheme of "sharing cost" with the transport operator actually reduces the burden of the card issuing bank costs, so the bank can provide discounted prices to consumers," he said.