Overview

Indonesia’s G20 presidency is providing added momentum in terms of the adoption and acceleration of digitalization in relation to economic transactions and activities. Digitalization within the economic sector has also been affirmed through the Blue Print Payment System 2025. In terms of this rapidly expanding area, Bank Indonesia (“BI”) has made the following three grand commitments: 1) Regulatory reform in order to accelerate the consolidation of a healthy, competitive and innovative payment industry; 2) Development of payment infrastructure capable of accommodating interoperability, interconnectivity and integration; and 3) Development of secure, efficient and balanced market practices.[1]