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Jakarta Post
The Jakarta Post
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BI launches e-money program for Indonesian fishermen

  • Anton Hermansyah
    Anton Hermansyah

    The Jakarta Post

Batam | Mon, August 15, 2016 | 04:31 pm
BI launches e-money program for Indonesian fishermen Bank Indonesia launched the "Lantera Card", an electronic currency specially designed for fishermen, supported by BNI, BNI, BTN, Bank Mandiri, and BCA in Batam, on August 14. (JP/Anton Hermansyah)

Bank Indonesia (BI) has launched its own e-money specially designed for fishermen, named the “Lantera Card”, as part of an effort to expand non-cash transactions in Indonesia.

During the ceremonial launch in Batam, Riau Islands, the central bank handed over cards to 1,000 fishermen. The five largest banks in the country, namely BRI, BNI, BTN, Bank Mandiri, and BCA, are supporting the program.

The central bank has been promoting its financial inclusion program, aiming for non-cash transactions to make up at least 70 percent of all transactions in the country by 2019.

“Technological advances now make it possible to use e-money in rural areas. Every branchless banking agent can accommodate the transactions,” said BI governor Agus Martowardojo after the ceremonial launch in Batam on Saturday.

As the fishermen now have bank accounts as part of the e-money program, he continued, it will be much easier for the government to launch financial programs for the people. President Joko Widodo has previously instructed relevant departments to deliver social assistance through e-money.

“E-money can reduce the printing costs of rupiah bills. As the government now has more control on the goods available to buy, in the end it will help maintain inflation,” Agus said. (ags)