No.23/211/DKom
Bank Indonesia has
launched the National Open API Payment Standard (SNAP) as well as sandbox trials
of Quick Response Code Indonesia Standard (QRIS) and Thai QR Payment
interconnectivity. The launch ceremony was hosted virtually today on Indonesian
Independence Day (17/08), entitled “Accelerating the Digital Economy and
Finance for Faster National Economic Growth”.
SNAP is a national standard set by Bank Indonesia comprising protocols
and instructions to facilitate open inter-application interconnectivity in
terms of payment transaction processing. SNAP aims to create a healthy,
competitive and innovative payment system industry that can provide efficient,
secure and reliable payment system services to the public. SNAP was compiled by the Indonesia Payment
System Association (ASPI) through a national working group. Meanwhile, cross-border QRIS development with
Thailand represents a new milestone of facilitating public activity in both
countries, specifically targeting travellers.
The Governor of Bank
Indonesia, Perry Warjiyo, confirmed that the latest BI initiative is a form of
digitalisation innovation synergy towards the advancement of the country as a
gift for Indonesia's 76th anniversary. “We are writing history, not
only in the present but also moving forward.
Innovation synergy is becoming more tangible in this country for the
independence of the Republic of Indonesia and the advancement of the national
economy,” enthused Governor Perry. Kartika
Wirjoatmodjo, Chairman of the Association of Indonesian Private Commercial
Banks (PERBANAS), took the opportunity to confirm that the application of a
national standard for payment system digitalisation will foster and optimise
the innovation of banking services, while simultaneously accelerating the
national economic recovery. Santoso Liem, Chairman of the Indonesia Payment
System Association (ASPI), stated that the initiatives undertaken by Bank
Indonesia are reforming the digitalisation landscape towards Indonesia Maju
(Onward Indonesia). Meanwhile, Pandu
Patria Sjahrir, Chairman of the Indonesia FinTech Association (Aftech),
reiterated Aftech's commitment to supporting BI initiatives as an integral part
of Indonesia Payment System Blueprint (BSPI) 2025 implementation.
SNAP implementation is a
critical phase of accelerating open banking in the payment systems space. The initiative is the manifestation of the
Indonesia Payment System Blueprint (BSPI) 2025 vision to accelerate national
economic and financial digitalisation, including through open banking
initiatives. Application of the national
standard is expected to create integration, interconnectivity and
interoperability among API operators, thus driving payment system efficiency.
Consistent with practices in several other countries, Open API payment standardisation
is expected to reduce industry fragmentation and simultaneously accelerate financial
and economic digitalisation in Indonesia. SNAP implementation was preceded by a
consultative paper on Open API Payment Standards published by Bank Indonesia in
the first quarter of 2020.
Interoperability and
interconnectivity between Quick Response Code Indonesia Standard (QRIS) and
Thai QR Payment was realised through close collaboration and synergy between
Bank Indonesia, Bank of Thailand, ASPI, switching providers in both countries,
bank appointed cross currency dealers (ACCD) and payment service
providers. Switching-to-switching
interconnectivity has been developed by switching providers in both countries,
namely Rintis, Artajasa, Jalin and Alto in
Indonesia as well as National ITMX (NITMX) in
Thailand. Furthermore, Local Currency
Settlement (LCS) is being used for transaction settlement through bank ACCD in
Indonesia, namely BCA, BNI and BRI as
well as bank ACCD in Thailand, namely Bangkok
Bank (BBL), Bank of Ayudhya (Krungsri) and CIMB Thai Bank (CIMBT). Full cross-border commercial QR implementation
is planned for the first quarter of 2022.
Jakarta, 17th
August 2021
Head of Communication Department
Erwin Haryono
Executive Director
Information about Bank
Indonesia
Tel. 021-131, Email: bicara@bi.go.id