Jalin Navigates the Interplay of Digital Ascendancy and the Enduring Role of Cash: Addressing Challenges and Seizing Opportunities in Indonesia's Financial Landscape

Jakarta – PT Jalin Pembayaran Nusantara (Jalin), a part of the state-owned enterprise (BUMN) holding Danareksa, unveiled strategic steps in facing the dynamics of financial transactions in Indonesia. This was revealed during a panel discussion on Economic Outlook 2024 with the theme revolving around the technology sector held at the Ritz-Carlton Hotel, Jakarta. The discussion featured several panels from the financial sector including Dicky Kartikoyono, Head of the Payment System Department of Bank Indonesia, Ario Tejo Bayu Aji, CEO of Jalin, Roderick Purwana, Managing Partner of East Ventures, and moderated by Eddi Dansaputro, Chairman of AMVESINDO.

During the panel discussion, Jalin emphasized its efforts to respond to the trend of financial transactions increasingly shifting towards mobile and digital platforms. By December 2023, QRIS transactions reached 225 trillion with a total of 30.41 million merchants. This indicates that digital financial services continue to grow among the public. The discussion mentioned that the number of transactions at ATMs has decreased as people's behavior shifts towards mobile and digital services. However, this does not diminish the role of ATMs as cash points.

Jalin's CEO, Ario Tejo Bayu Aji, sees this phenomenon as both a challenge and an opportunity. According to him, as a company providing payment system infrastructure, Jalin's focus is not only on expanding penetration in the digital realm but also on addressing the need for cash management, which remains a requirement for a large part of the population.

"Jalin is mandated by the Government to connect the public with the financial and non-financial ecosystem, in line with our vision of becoming the National Digital Highway. We also see that good synergy between PJP, PIP, and PJPUR companies will be able to expand the acceptance of digital financial services such as QRIS, while still maximizing the circulation of cash in society," explained Ario.

Furthermore, Ario revealed that Jalin is gradually adopting AI technology. "The use of AI and machine learning will assist Jalin in providing insights in the form of predictive analysis to the banking industry, fintech, and the Government through relevant Ministries in making strategic decisions for efficiency," concluded Ario.