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​Communication Department​

10/22/2021 8:00 PM
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Bank Indonesia Launching BI-FAST in December 2021

Press Releases

No. 23/270/DKom

Bank Indonesia is launching BI-FAST in December 2021, with the preliminary stage focusing on individual credit transfer services. BI-FAST was developed to support industry consolidation as well as national-driven, end-to-end integration of the digital economy and finance as the manifestation of the Indonesia Payment System Blueprint (BSPI) 2025, thus creating a fast, affordable, convenient, secure and reliable (CEMUMUAH) payment system. BI-FAST implementation is also in line with the future direction of Bank Indonesia's monetary, macroprudential, payment system and rupiah currency management policies, namely to create an integrated, interoperable and interconnected (3i) digital ecosystem.  In terms of BI-FAST implementation, Bank Indonesia has set the following policies:

  1. BI-FAST participation is open to banks, nonbanks and other parties meeting the general and specific criteria.
  2. Batch 1 participants in December 2021 include 22 candidates, with a further 22 candidates for Batch 2 in January 2022.
  3. BI-FAST infrastructure can be provided by participants: (i) independently, (ii) sub-independently (affiliate), or (iii) by sharing between participants and third-parties in accordance with prevailing requirements.
  4. During the preliminary stage, maximum transaction value is set at Rp250 million per transaction, which will be evaluated periodically.
  5. Initially, Bank Indonesia is charging BI-FAST participants Rp19 per transaction, while the participants can charge customers up to a maximum of Rp2,500 per transaction, to be reviewed periodically.


Bank Indonesia continues to strengthen policy synergy and BI-FAST implementation with industry players to integrate the national digital economy and finance as well as create CEMUMUAH payment system services, thereby accelerating the economic recovery and stimulating growth, as well as increasing economic and financial inclusion.


Economic and financial digitalisation affects nearly all aspects of life.  Consumption is shifting towards greater use of digital platforms, thus demanding mobile, fast, convenient, affordable and secure payment methods.  Transmission of the Covid-19 pandemic created new challenges yet also several opportunities.  Digitalisation is key to accelerating the national economic recovery, while solidifying the pace of economic growth.  Bank Indonesia published BSPI 2025 in response to the challenge of digitalisation in all aspects of life.


Within BSPI 2025, digital innovation of the retail payment system is oriented towards creating CEMUMUAH payment system services. BI-FAST is the backbone of retail payment system infrastructure moving forward, thus accelerating payments using various instruments and channels securely and conveniently in real time and operating 24/7.  During the initial stage of implementation in December 2021, BI-FAST is focusing on individual credit transfer services[1] before expanding to bulk credit, direct debit and request for payment[2] services in subsequent stages.


Bank Indonesia has set BI-FAST participation policy. BI-FAST participation is open to the payment system industry, namely banks, nonbanks and other parties meeting the criteria.  In general, participation criteria encompass the institutional arrangements, financial performance and information system capabilities.  There are also specific 3C criteria, namely Contribution (to the digital economy and finance), Capability (capital and liquidity) and Collaboration (support for future BI policy).  In addition, participants must also meet the Champion in Readiness criteria based on the readiness of people, processes and technology, as well as readiness as a fund manager.


Based on an assessment of the participation criteria, commitments and readiness of candidate participants, including the people, processes and technology, Bank Indonesia selected 22 candidate participants for Batch 1 in December 2021 (Appendix 1) and a further 22 candidates for Batch 2 in January 2022 (Appendix 2)Batch 1 and 2 participants will be confirmed after meeting the Checkpoint 4 Threshold and passing the Industrial Test.  Further opportunities to become BI-FAST participants will be available in subsequent batches.


BI-FAST infrastructure can be provided by participants: (i) independently, (ii) sub-independently (affiliate), or (iii) by sharing between participants and third-parties in accordance with prevailing requirements Independent BI-FAST participants provide infrastructure autonomously, affiliated participants cooperate with other participants in one business group and sharing participants cooperate with participants outside the business group or with a third party.


Maximum transaction value will be implemented gradually and is initially set at Rp250 million per transaction Maximum transaction value is based on the principles of efficiency and effectiveness, innovation and competition, inclusivity, customer oriented, periodic review as well as security and risk mitigation.  Furthermore, the maximum transaction limit will be evaluated periodically based on: (i) the seamlessness of the BI-FAST system on the operator and participant sides, (ii) the transition period as transactions shift from the National Clearing System (SKNBI) to BI-FAST, (iii) compatibility with CEMUMUAH aspects.


Bank Indonesia has also established a BI-FAST price scheme based on task implementation and its jurisdiction in the payment system, the provision of efficient public infrastructure as well as supporting CEMUMUAH payment system services, accelerating the digital economy and finance and maintaining industry continuity and sustainability The price scheme is as follows: (i) charges from Operator to Participants of Rp19 per transaction, and (ii) maximum charges from Participant to Customer of Rp2,500 per transaction, slightly lower than the fee for using the National Clearing System (SKNBI).  The price scheme will be rolled out gradually based on periodic review.  The current price scheme is expected to provide adequate space to ensure payment system industry sustainability, while providing efficient public infrastructure to accelerate the national digital economy and finance.


Jakarta, 22nd October 2021

Head of Communication Department

Erwin Haryono

Executive Director

Information about Bank Indonesia

Tel. 021-131, Email:

[1] Individual credit transfers are one-to-one customer transfer orders.

[2] Bulk Credit is a one-to-many transfer order, such as payroll. A Direct Debit is a recurring payment based on a standing instruction approved by the customer, such as for utility bills.  A Request for Payment is a service to forward funds transfer instructions from the receiver to the sender and processing the fund transfer transaction based on approval by the sender in accordance with the funds transfer instruction.


​Contact Center BICARA : (62 21) 131
E-mail :
Working hours: Monday to Friday, 08.00-16.00 West Indonesia Time

Halaman ini terakhir diperbarui 11/1/2021 3:06 PM
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