Performance of Digital Economic Indicators During the Covid-19 Pandemic: Payment System Case of Indonesia

We explore the performance of digital payment system instruments during both the pre-COVID-19 period and during the pandemic. We focus on four main digital economic indicators in Indonesia; namely, electronic money, Automated Teller Machine (ATM), digital banking, and Real Time Gross Settlement (RTGS) transactions. Using monthly data covering the period 2013:01 to 2023:04 obtained from Bank Indonesia, we employ the Difference-in-Differences method to assess the impact of the pandemic on digital economic indicators. The results show that during the pandemic, generally, the transaction value of electronic money, digital banking and RTGS are continuously upward trending, while the number of electronic money and ATM cards per month were more during the pandemic than pre-pandemic.