The Impact of Covid-19 Pandemic on Electronic Money Transactions: A Study Case in Indonesia Carmelita Vivi Septianurmayanti (a*), Ahmad Danu Prasetyo (b)
a) School of Business and Management, Bandung Institute of Technology
Jl. Ganesa No.10, Lb. Siliwangi, Kecamatan Coblong, Kota Bandung, Jawa Barat 40132
*carmelita_vivi[at]sbm-itb.ac.id
b) School of Business and Management, Bandung Institute of Technology
Abstract
The rapid technological development has influenced Indonesia^s payment system. Due to the pandemic, people tend to seek cashless payment methods to limit physical contact. By using monthly time-series data from Bank Indonesia and Yahoo finance website during 2015 - 2020, this study employs Mann-Whitney U test and Ordinary Least Square (OLS) regression methods to determine the impact of Covid-19 pandemic on E-Money transactions in Indonesia. The result shows that there is a significant difference in volume and nominal value of E-Money transactions before and during the implementation of PSBB in Indonesia. Furthermore, Covid-19 correlates positively with nominal value of E-Money. Inflation correlates negatively with E-Money while stock market does not have any contribution to E-Money.
Keywords: E-Money- Covid-19- Cashless- Inflation Rate- Stock Market- Indonesia
