Retail Payment System

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Instrument

Definition (PBI APMK No.11 / 11 / PBI / 2009 as amended by PBI No.14 / 2 / PBI / 2012 concerning the Implementation of Card-Based Payment Instrument Activities): Card-Based Payment Instrument (APMK) is a payment instrument in the form of a credit card , automated teller machine (ATM) cards, and debit cards.
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Channels and Services

In general, QR Code is a type of two-dimensional barcode made up of three black squares arranged in a square grid around the bottom left, top left and top right corners of the barcode, and a module consisting of pixels, which can store alphanumeric data, characters and symbols, used to facilitate contactless payment transactions through scanning technology.​ More

Infrastructure

In accordance with the Indonesian Payment System Blueprint 2025, in the future there will be the development of a Integrated Payment Interface (IPI) as a platform that integrates all payment channels using API technology to support the implementation of real-time payment transactions using a single ID and a single interface. IPI development is carried out to increase financial inclusion through interoperability of various payment channels.
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Electronification

Bank Indonesia announced the National Noncash Movement (GNNT) on 14th August 2014, which aims to create a secure, efficient and always available payment system and, in turn, facilitate an effective and efficient national financial system. GNNT is also expected to minimise the constraints associated with cash payments, such as damaged or worn currency no longer fit for circulation, as well as increased transaction efficiency as the public is no longer required to carry large amounts of currency.  Therefore, GNNT will also boost transaction effectiveness by avoiding human error.  Ultimately, GNNT will create a cashless society ecosystem.
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Financial Technology (Fintech)

Financial technology is the use of technology and innovation in the financial system to produce new products, services, technologies and/or business models, which can potentially disrupt monetary stability, financial system stability and/or the efficiency, availability, security and reliability of the payment system.  The development of financial technology brings numerous benefits for consumers, businesses and the national economy, yet also contains the potential risk of financial system disruption if not effectively mitigated.
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Nonbank Money Chagers and Funds Transfer Providers

Provisions regarding Fund Transfers are regulated in Bank Indonesia Regulation No.14 / 23 / PBI / 2012 concerning Fund Transfers, Bank Indonesia Circular Letter No.15 / 23 / DASP regarding Fund Transfer Management and Bank Indonesia Circular Letter No.16 / 1 / DKSP concerning Report on the Implementation of Funds Transfer by Non-Bank Indonesian Legal Entities on-Line.
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