Blueprint Sistem Pembayaran Indonesia: Kunci Pertumbuhan Ekonomi dan Inklusi Keuangan
28 October 2024
The increasingly widespread development of digital finance has very positive benefits for economic growth and financial inclusion. However, are you familiar with the Indonesian Payment System Blueprint (BSPI) promoted by Bank Indonesia? This payment system is arguably the key to Indonesia's economic growth; get more information about BSPI below!
What does BSPI mean?
The Indonesian Payment System Blueprint or BSPI is a guide to Bank Indonesia's (BI) policy direction in the field of payment systems in the digital era in order to support the formation of a conducive digital economic and financial ecosystem.
How is Bank Indonesia Achieving the 2025 BSPI Vision?
BSPI will be implemented through 5 initiatives, which are:
- Open Banking
- Retail Payment System
- Financial Market Infrastructure
- Data & Regulation
- Licensing & Supervision
The five initiatives are further elaborated into 23 key deliverables that will be carried out through three approaches: industrial approach, regulatory approach, and collaborative approach.
BSPI 2025 Outcomes
Digital payment transactions in Indonesia have reached Rp60.3 trillion, a growth of around 120% compared to the 2019 realization. This shows significant development in the digital payment system in Indonesia.
By 2030, BI will focus BSPI on five key initiatives:
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Payment Infrastructure Modernization: Development of retail and wholesale payment systems, including BI FAST and payment data center infrastructure.
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National Payment Industry Consolidation: Strengthening and consolidation of the payments industry, including cooperation between large and small industry players.
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Digital Innovation and Acceptance: Encouraging digital innovation in payment systems, including the use of blockchain technology for the digital rupiah.
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Expansion of International Cooperation: Enhance international cooperation in payment system development.
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Digital Rupiah Development: Development of a secure and reliable digital rupiah.
