Indonesian Banks Experience Surge in E-Money Transactions During Year-End Holidays

Strong Growth in Digital Payments

Indonesian banking giants are witnessing a significant surge in e-money transactions during the 2025 year-end holiday season. PT Bank Mandiri (Persero) Tbk (BMRI) distributed 956,250 new e-money cards across Indonesia to meet the anticipated increase in transactions ²

. This strategic move aligns with the bank's observation of growing demand for non-cash transactions, particularly in transportation, toll roads, parking, and other payment sectors.

Digital Transaction Statistics

The growth in e-money transactions is not limited to Mandiri alone. PT Bank Central Asia Tbk (BCA) reported that its Flazz e-money service achieved 964 million transactions in the first 11 months of 2025, representing an 11% year-on-year growth ¹

. The value of these transactions also saw a 12% annual increase, with the total number of Flazz cards in circulation exceeding 29 million.

Industry-Wide Growth

The surge in e-money transactions during the year-end holidays is part of a broader trend in Indonesia's digital payment landscape. According to Bank Indonesia data, the total float in e-money and digital wallets reached Rp15.86 trillion by October 2025, marking a 19.76% annual increase ³

. This growth was driven by both banking and non-banking e-money services, with Rp4.77 trillion and Rp11.09 trillion in float respectively.

Drivers of Growth

Several factors are contributing to this rapid growth in e-money transactions:

1. Increased mobility: Higher travel and shopping activity during holiday periods
2. Expanded acceptance: Wider adoption of e-money in transportation systems
3. Digital infrastructure: Improved digital payment integration across various platforms
4. Consumer preference: Growing preference for contactless payments

Impact on Banks

The surge in e-money transactions is positively impacting banks' fee-based income. For BCA, the growth in digital transactions contributed to a 12.4% year-on-year increase in non-interest income to Rp21.3 trillion by Q3 2025 ¹

. The bank's fee and commission income rose by 9.5% to Rp15.1 trillion during the same period.

Future Outlook

As Indonesia continues to embrace digital payments, banks are likely to maintain their focus on enhancing their e-money services. Bank Mandiri is committed to driving innovation in its e-money offerings, with easy top-up options through various digital platforms becoming a key feature ²

. The ongoing development of seamless payment ecosystems will likely continue to drive growth in the e-money sector.