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Several studies have highlighted the importance of a cashless society. Boston Consulting Group research in 2019 showed that cash is no longer king. In fact, in the macro context, economies that are more cash intensive tend to grow slowly and miss out on significant financial benefits.
The managing director of consumer and retail transactions, Hery Gunardi, said on Monday that Bank Mandiri has prepared Rp 33.5 trillion (US$2.3 billion), or Rp 1.1 trillion on average per day, in cash for between Dec. 2 and Jan. 2.
Indonesia is among the top drivers of e-money growth in Southeast Asia alongside neighboring Malaysia, Singapore, the Philippines and Thailand, according to an inaugural report commissioned by Standard and Poor’s (S&P) Global Market Intelligence.
