The government recently launched a domestic government credit card. This launch increased the number of credit cards circulation. as of June 2022, the number of credit cards spread throughout Indonesia reached 16.58 million units. This number increased by 0.84% ​​compared to the same period last year, which was 16.56 million credit card units.
Based on data from Bank Indonesia (BI), the number of credit cards circulating in Indonesia reached 16.58 million units in June 2022. This number increased by 0.84% ​​compared to June 2021 which was 16.56 million credit cards.
Although increasing annually, the number of credit cards circulating in the country has tended to decline since the Covid-19 pandemic hit. This condition occurs in line with the shift in people using electronic money.
The reason is that electronic money is considered safer from Covid-19 transmission because of the lack of direct contact, efficiency, and lots of promos. Furthermore, the value of credit card transactions reached Rp149.18 billion in the sixth month of this year.
The number jumped 34.35% compared to the previous year which amounted to Rp19.81 trillion. Meanwhile, the volume of credit card transactions was recorded at 27.93 million times in June 2022.
That number has increased by 20.26% compared to the same period the previous year of 23.22 million times.
For information, there are 27 credit card companies in Indonesia. The number consists of 22 commercial banks, one Islamic bank, and four non-bank institutions.
Furthermore, BI noted, that the value of credit card transactions reached Rp 26.62 trillion in June 2022. This value increased by 3.8% compared to the previous month.
Meanwhile, the volume of credit card transactions in Indonesia reached 27.93 million times in June 2022. This number decreased by 1.55% compared to the previous month of 28.36 million times (m-to-m).
On an annual basis (year-on-year/YoY), the value of credit card transactions jumped 34.35%. In June 2021, the value of credit card transactions reached Rp. 19.81 trillion.
Meanwhile, transaction volume also increased by 20.26% (YoY) compared to the same period the previous year. Credit card transaction volume only reached 23.22 million times in June 2021.
Furthermore, the value of debit card transactions amounted to Rp 631.2 trillion in the sixth month of this year. This value increased by 4.3% compared to the previous month which amounted to Rp 605.3 trillion.
