Central Banking

Bank Indonesia launches fast payments system

Bank Indonesia
Bank Indonesia
Photo: Christopher Jeffery

Bank Indonesia launched a fast retail payments system on December 21, as part of a wider overhaul of the country’s core payments infrastructure.

BI governor Perry Warjiyo unveiled the BI-Fast system at an online ceremony. He said the new platform was designed “to encourage inclusive and equitable economic growth, and support the national economic recovery programme”.

In a statement, the central bank said it would provide the infrastructure for BI-Fast and payments firms would then offer

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