This study aims to analyze the demand for electronic money in Indonesia using the ARDL model, and the data used are quarterly data from 2009.1 to 2020.4. The estimation results show there is a short-term to a long-term relationship. Furthermore, interest rates, prices, and exchange rates significantly affect demand for electronic money in the short run. In contrast, income does not have a statistically significant effect on the demand for electronic money. It is necessary to conduct a study with a nonlinear model due to fluctuations in demand for electronic money in Indonesia.