°µÍø½ûÇø

Younger generations wont

Much as I'm always a little careful of statistics, but this one is very probably close (Especially in the cities). I hardly use cash at all as most shops accept QRIS payments from my BCA app.

I still use cash for small transaction in places like Alphmart and Indomaret as my local ones don't have QRIS (no idea about the rest), so I use a card for anything over around 100,000, cash for small stuff.

Bank Indonesia is trying to get a digital Rupiah off the ground and, the way things are here, I suspect they're get it moving with ease.

In other news, Indonesia is moving away from the Dollar so watch out if you have Dollar accounts over here.

For the record, BI has changed the name of LCS to Local Currency Transaction (LCT). This is possible because BI will expand the function of the LCS which does not only cover trade settlement, but also individual transaction payments.

Currently, according to BI, Indonesia's LCT cooperation has been implemented with China, Japan, Malaysia and Thailand. Meanwhile, for Singapore, an MOU was signed on 29 August 2022 and is currently in the exploratory stage for implementation in 2023.

Going forward, BI has planned LCT cooperation with Saudi Arabia and India.