This study aims to analyze the factors that have an influence on the amount of electronic money in circulation (JUEB) in Indonesia in 2009 – 2021. The independent variables used are the number of electronic money transactions (JTUE), BI-RATE, inflation rate, and gross domestic product. Quantitative method with Ordinary Least Square analysis, statistical test, and classical assumption test to determine the relationship and influence between the independent variable and the dependent variable. The results showed that the number of electronic money transactions (JTUE) and gross domestic product (GDP) had a positive effect on the amount of electronic money in circulation (JUEB), the variable interest rate for Bank Indonesia certificates (BIRATE) and inflation (INF) had no significant effect. Fikan to the amount of electronic money in circulation (JUEB). Based on these results, the government should be able to take appropriate strategies to accelerate the electronification of the payment system in Indonesia. In addition, financial institutions, especially Bank Indonesia, would be able to better educate the public about the benefits of using non-cash (electronic money) and develop and increase the number of financial infrastructure to make it easier for the public to reach these facilities so that non-cash transactions can also increase.

Keywords: JUEB, JTUE, BI-RATE, Inflation, Gross Domestic Product.