BI Applies National Payment Gateway at End of March 2017

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  • Logo of Indonesia's central bank, Bank Indonesia, as seen in Jakarta, January 19, 2017. REUTERS/Fatima El-Kareem

    Logo of Indonesia's central bank, Bank Indonesia, as seen in Jakarta, January 19, 2017. REUTERS/Fatima El-Kareem

    TEMPO.CO, Jakarta - Bank Indonesia (BI) is planning to issue a regulation on the national payment gateway (NPG) system by the end of March 2017. According to BI governor Sugeng, the regulation will be issued to improve the role of domestic switching companies in facilitating non-cash financial transactions.

    "We are still drafting the 'three S': standards, switching and service," Sugeng said on Monday, March 20, 2017.

    Sugeng said that currently, financial payment systems are still segmented, and not yet interconnected between switching companies. "It's not efficient. For example, bank A is a member of switching company 1, it cannot make transactions with banks under other switching companies. Next year, we will connect switching companies and business players," Sugeng said.

    Sugeng said that the application of the NPG will be done gradually. Sugeng stated that at first, the NPG will be applied on ATM machines. On June 2017, the NPG will be applied for electronic money.

    "Toll roads will use electronic [money] cards. We hope at least it can be implemented on the Cipali toll road during homecoming season," Sugeng said.

    Previously, Deputy Director of Payment System Program of BI Aloysius Donanto Herry Wibowo said that the Indonesian NPG will also include interconnected financial transaction processing between switching companies. In addition, the NPG will also integrate other existing services such as settlements and financial clearing.

    ANGELINA ANJAR SAWITRI