The Comparison of ATM/Debit Card, Credit Card, and E-Money Transactions in Indonesia Before and After the Covid-19 Pandemic Period January 2018 - August 2023

Abstract

The use of various electronic payment media found an unexpected momentum when the world experienced the COVID-19 pandemic. The public's usage of electronic payment media has increased, contributing to social limitations because shopping may be done remotely via mobile devices or other remote access. The purpose of this research is to analyze the differences in transactions of Payment Using Cards and Electronic Money in Indonesia before and after the COVID-19 pandemic. The data source is the Central Bank's Indonesian Banking Statistics, with monthly data ranging from January 2018 to August 2023. The data set covers the quantity, volume, and value of ATM/Debit Card transactions, as well as hypothesis testing using the Mann-Whitney U Test. All retail payment instruments, notably ATM/Debit Cards, Credit Cards, and Electronic Money, saw a significant decline during the beginning of the pandemic but thereafter experienced an increase in transaction volume and value. After the pandemic, the average number, volume, and value of ATM/Debit Card, Credit Card, and Electronic Money transactions increased significantly compared to before the pandemic. The development of electronic payments in Indonesia after the pandemic is empirical evidence that a less-cash society in Indonesia has been formed and has progressively grown in the last five years.