Bank Jakarta received the Banking Partner and Financial Literacy Bank Partner awards at the Digital Market Competition for its efforts to promote the implementation of cashless transactions in several traditional markets in Jakarta.

The Digital Market Competition is conducted collaboratively between the Jakarta Government, Perumda Pasar Jaya, the Financial Services Authority (OJK), and Bank Indonesia (BI), aiming to encourage traditional markets to switch to digital payment systems in a bid to create faster, safer, and more transparent transactions.

Bank Jakarta received three awards simultaneously: as the Best Banking Partner in Market Category B (Koja Market) and Market A (Mayestik Market), as well as the Second Best Financial Literacy Bank Partner.

Those awards were directly handed over by Jakarta Governor Pramono Anung to Bank Jakarta President Director, Agus H Widodo, witnessed by Bank Indonesia Jakarta Deputy Head Representative, Yosamartha; Financial Services Authority Head for Jabodebek, Edwin Nurhadi, at the Main Hall of Tanah Abang Market Block B, Central Jakarta, Friday (8/22).

Bank Jakarta President Director, Agus H Widodo expressed his gratitude for the award given to Bank Jakarta. Bank Jakarta made the Digital Market Digitization Competition an event to promote financial literacy and inclusion.

He assessed, the digitization of traditional markets as part of the transformation of Jakarta's financial ecosystem.

"Besides facilitating transactions through QRIS and EDC, this effort also provides broader access for MSMEs to enter the formal financial system. Bank Jakarta is committed to making digitalization the foundation for empowering community-based economies," he explained.

Bank Jakarta Secretary, Arie Rinaldi said, Bank Jakarta will continue to enhance collaboration with Pasar Jaya and promote market digitization in the future. It even considers this event as a momentum for Bank Jakarta to push the digitalization of markets throughout Jakarta.

"We believe that market digitalization will have a positive impact on empowering MSMEs and will drive regional economic growth," he explained.

Mayestik Market Head, Dewi Ratna Furi is grateful that Mayestik Market received the award for the 'Best Digital Market Type A' category at the Digital Market Competition. She also welcomes various financial literacy efforts conducted by the banking industry, especially Bank Jakarta, which was appointed as the main partner of Mayestik Market in implementing digitalization.

"Collaboration between Mayestik Market and Bank Jakarta in the Digital Market Competition event is a very positive and strategic move. This is not just a trend, but a necessity to ensure that traditional markets remain relevant and competitive in the digital economy era," she added.

Previously, the Governor stated that digitalization could not be avoided. She assessed, if banks and their literacy processes are not competed in, and the market is not observed, there will be no leaps or surges.

"So, during the opening of the Digital Market Competition, I didn't imagine that the increase could be so significant. The use of QRIS, including its transactions, means that what we are doing together shows extraordinary progress," he added.

As information, out of 153 markets managed by Perumda Pasar Jaya, 20 traditional markets have been chosen as pilot locations. They were selected randomly, taking into account their classification (Class A, B, and C) and the number of active business units. They compete in several categories, namely the Most Active Literacy Program, Best Financial Digitalization, and Inclusive Financial Access.

Jakarta contributes 16.61 percent to the national GDP with a growth of 5.18 percent, higher than the national average of 5.12 percent. This means Jakarta is growing better, with one of the driving factors being digitalization.

Aside that, the use of QRIS in 20 markets increased by nearly 47 percent, traders' NPWP also rose significantly, and e-commerce transactions surged by more than 40 percent.