Here are 17 emoney options Indonesians can use for shopping, travel, and ecommerce

Indonesia’s emoney adoption rate is growing well, from just IDR 5 billion (US$418,000) transacted in 2007 to IDR 30 trillion (US$2.5 billion) in 2013. Today, about IDR 7.7 billion (US$643,000) is circulated on a daily basis using emoney tools in Indonesia like ewallets and prepaid cards.

The Bank of Indonesia defines electronic money as the kind of money that is stored on a system like a server or chip. They are used by consumers as either ewallet services or prepaid cards¹. These ewallets and prepaid cards are especially useful in a nation with such low banking and credit card penetration, helping people make online payments or storing money for essential things like taking the bus or paying bills.

Here are 17 emoney options that people can use in Indonesia. They all have the official stamp of approval from the country’s central bank.

Banks

Most banks have an emoney product in the form of a prepaid card. The card can be used by anybody, and the banks usually collaborate with universities to integrate student ID cards into prepaid cards. These cards usually can hold a maximum value of IDR 1 million (US$85).

1. Jakarta Bank – JakCard

Launched in 2012, the Bank of Jakarta issued JakCard as a way to pay for public transportation in the Jakarta area. It is the main payment tool for Jakarta’s busway system and it can also be used for several train lines. Users can buy and top-up their JakCards at designated Jakarta Banks as well as at affiliated partners.

Unfortunately, there’s no added incentive in using JakCard besides the fact that it is a cashless payment tool and can be used for a number of public transportation means.

2. Mandiri Bank – Indomaret Card, GazCard, E-Toll Card, and Mandiri E-Cash

As the biggest bank in Indonesia, Mandiri Bank dominates the emoney industry with three prepaid cards: Indomaret Card, GazCard, and E-Toll Card. Each one can be used to pay for road tolls and gas, as well as for payments at over 870 offline merchants.

The bank issued a total of 3.5 million prepaid cards up to December 2013. That year, the bank processed 113.4 million transactions, which was 82.2 percent of all emoney transactions that year; those had a total value of IDR 1.51 trillion (US$96 million), which is over half of 2013’s emoney-based spending in Indonesia.

Indomaret is a mini-market chain with over 4,000 outlets across Indonesia. With the Indomaret Card (created in partnership with Mandiri Bank), users can get discounts when shopping at the minimarket store. The card also functions as a payment tool for monthly electricity bills, landline calls, and cable TV. You can get an Indomaret Card at any Indomaret branch.

GazCard was launched as early as 2006 in partnership with oil and gas company Pertamina. People can use the card to purchase gas at 125 Pertamina gas stations in Greater Jakarta. They can buy GazCard at Mandiri Bank branches.

People can use E-Toll Cards to pay for toll roads. There are specific toll booths that accept these cards, and which are usually less crowded than the ones that take cash, so it’s a good way to shave a few minutes from your car journey.

3. Bank Central Asia (BCA) – Flazz

4. Mega Bank – Mega Cash and Mega Virtual

5. Bank Negara Indonesia (BNI) – TapCash and Kartuku

6. Bank Rakyat Indonesia (BRI) – BRIZZI

7. Permata Bank – BBM Money

8. CIMB Niaga Bank – Rekening Ponsel

9. PT. Bank National Nobu – Nobu E-Money

Telcos

10. Telkomsel – TCash

11. Indosat – Dompetku

12. XL Axiata – XL Tunai

Others

13. Doku – DokuWallet

14. Telkom Indonesia – Flexy Cash dan i-VAS Card

15. Skye Mobile Money – Skye Card

16. Finnet Indonesia – FinChannel

17. Artajasa – MYNT

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