FILE PHOTO: The logo of Indonesia's central bank, Bank Indonesia, is seen on a window in the bank's lobby in Jakarta, Indonesia September 22, 2016. REUTERS/Iqro Rinaldi/File Photo
JAKARTA (Reuters) - Indonesia's central bank on Tuesday launched a new retail payment system that its governor said will slash the cost of money transfers and support the country's booming digital economy.
The COVID-19 pandemic has accelerated growth in Indonesia's digital finance, with digital banking transactions rising 47% on a yearly basis in November to reach 3,877 trillion rupiah ($269.52 billion) and e-money transactions up 62% to 31.3 trillion rupiah, according to Bank Indonesia's (BI) data.
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