Indonesia’s Central Bank Governor Unveils 5 Key Payments Initiative

Indonesia’s Central Bank Governor Unveils 5 Key Payments Initiative

by June 3, 2019
  •  
  • 21
  •  
  •  
  • 4
  •  
  •  
  •  
  •  
  •  
  •  
  •  
    25
    Shares

Bank Indonesia Governor, Perry Warjiyo recently unveiled “Indonesia’s Payment System 2025 Vision” a strategic framework consisting of 5 key initiatives to future proof Indonesia’s payments ecosystem for a digital future.

According to a press statement issued by the central bank, some of IPS 2025’s goal include enabling closer collaboration between banks and fintech, and faster digital transformation within banks.

The 5 initiatives that will be carried out by the central bank will revolve the following key themes; open banking, development of retail payments, development of wholesale payments & financial market infrastructure, data & digital identity, and regtech & suptech.

Laying down the foundation for the five initiatives, Bank Indonesia held a soft launch for QR Code Indonesia Standard (QRIS), which will allow all QR payments to be interoperable using only one QR code.

 

 

Print Friendly, PDF & Email
  •  
  • 21
  •  
  •  
  • 4
  •  
  •  
  •  
  •  
  •  
  •  
  •  
    25
    Shares

2 Comments so far

Jump into a conversation
  1. #1 Philippines To Launch Standardised QR Code For Payments Soon | Fintech Singapore 9 September, 2019, 10:29

    […] within the ASEAN region, Philippines follows in the footsteps of countries like Singapore, Indonesia, and Malaysia in adopting a standardised QR payment to drive interoperability between e-wallet […]

  2. #2 With Mobile Payments on the Rise, Creator of QR Codes Thinks It Needs a Security Revamp | Fintech Singapore 12 September, 2019, 12:38

    […] processes trillions of dollars in payments annually using QR codes, many countries like Singapore, Indonesia, Philippines, and Malaysia are attempting to emulate China’s […]

<