Asia: Indonesia’s new bank notes

Bank Indonesia (Indonesian central bank) just launched a new series of bank notes in early December 2016. The new bank notes will have enhanced security features including ultraviolet marks, security thread on both sides and others – not all elements will be visible to the naked eye. The new notes were launched as part of regular action to prevent counterfeiting in a country where most payment transactions are still being made through cash. 

According to RFi Group Indonesia H2 2016 Payment Council data, cash still accounts for up to 85% of purchase transactions in the country, with most people using cash for public transport and taxi. However, credit card has started becoming more common with the increased popularity of e-commerce and online shopping.

 

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