As part of the Indonesian Presidency at the G20, last Wednesday 2 February an International Seminar on Digital Financial Inclusion was held. This international seminar was opened with a Welcome Speech from representatives of the Bank of Italy and the Ministry of Finance of the Russian Federation, as well as a Keynote Speech from the Deputy Governor of Bank Indonesia. The Indonesian E-Commerce Association was also present at this activity as a participant.

The results of each panel session agreed that Digital Finance has become a solution that is able to reach more people, especially in developing countries. For this reason, further efforts are needed to optimize the potential of Digital Finance, including by socializing about Digital Financial Literacy and preparing regulations to ensure security when transacting digitally. One of the panelists, Ruth Goodwin-Groen from Better Than Cash Alliance said that there are 9 principles that need to be implemented by Digital Finance service providers, including being fair, transparent, accountable and offering other options if the service fails to serve users. idEA members, especially those in the Fintech sector, need to ensure that they have implemented these 9 principles in their services.