Banks in Indonesia Will Charge Cash Withdrawals Fees on EDCs to Increase Revenue

BANKING - JAKARTA. Banks are making concerted efforts to boost revenue from electronic data capture (EDC) services. Their strategy extends beyond merely increasing the number of EDC machines in circulation and the volume of transactions. Banks have now begun to impose fees on customers for transactions made via EDC.

EDC machine transactions have seen a significant surge in the past five years, in line with the introduction of QRIS services. According to data from Bank Indonesia (BI), the number of EDC machines available to merchants reached 2,114,663 units as of March 2024.