Jokowi on Cross Border Payment System: ASEAN One Step Ahead of Other Nations

TEMPO.CO, Nusa Dua - Indonesia’s President Joko "Jokowi" Widodo appreciated the launch of an integrated digital payment system between five countries in ASEAN which he deemed one of the keys to strengthening a sustainable economy at the regional level. 

Central banks of five ASEAN countries, namely Indonesia, Thailand, Singapore, Malaysia, and the Philippines launched a cross-border digital payment system ahead of Bali G20 Summit.

“ASEAN is one step ahead of other countries in implementing cross-border payment,” said the President who attended Bank Indonesia’s virtual event at Grand Hyatt, Nusa Dua, on Monday, November 14, 2022.

He said the interconnection of payments between countries was in line with one of the priority issues of the G20 Summit. The conference of the leaders of the 20 nations seeks to issue policies that aim to accelerate digital transformation.

At the bilateral level, he ensured that countries implement integrated digital transaction policies, such as those between Indonesia and Thailand as well as Singapore and Thailand. Meanwhile in Indonesia, digital transactions have developed in recent times through the development of QRIS and BI Fast.

“So it's time for this cooperation to be formalized in regional payment connectivity as a concrete form of implementing the G20 roadmap for enhancing cross-border payments,” he remarked.

Jokowi supported this initiative to be expanded to the global level given that the ease of access to payments will have a major impact on the economy particularly the tourism, trade, and MSME sectors. “So that it pushes a stronger and inclusive economic recovery.”

FRANCISCA CHRISTY ROSANA

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