Overview

Bank Indonesia (“BI”) issued Regulation of BI No. 22/23/PBI/2020 on Payment Systems (“Regulation 23/2020”)[1] as a follow up to the various initiatives that were originally enacted under the 2025 Indonesian Payment System Blueprint.[2] As background information, Regulation 23/2020 has been primarily designed in order to restructure Indonesia’s payment system industry while ensuring that it keeps abreast of all of the latest developments in payment system digitalization and innovation.[3]