Official! BI Transfers SNAP Management To Payment System Association

JAKARTA Bank Indonesia (BI) stated that as of September 1, 2023, the management of the National Open API Payment (SNAP) will be transferred to the Association of Indonesian Payment Systems (ASPI) as the Self-Regulatory Organization[ (SRO).

Head of the BI Communications Department Erwin Haryono said that the transfer in question aims to encourage industrial innovation, especially in the development of the payment system Open API.

"With the transfer of SNAP management to ASPI, it is hoped that there will be an expansion of SNAP services and users in the future so that it can increase efficiency, security, and innovation in the payment sector in Indonesia," he said in a written statement on Friday, September 1.

According to Erwin, in accordance with Member Regulation of the Board of Governors (PADG) No. 23/15/PADG/2021 concerning the Implementation of the National Open Application Programming Interface Payment, Bank Indonesia can assign SRO to carry out all or part of SNAP management.

He said that the SNAP Management that will be carried out by ASPI includes the management of the SNAP Site Developer system which includes the development, updating, and maintenance of SNAP Developers Site.

Then, the operational management of SNAP Developer Site, the implementation of verification and/or recommendations related to the implementation of SNAP, the implementation of regular and/or updating of SNAP and/or at any time, as well as the publication of SNAP.

"SNAP was prepared by Bank Indonesia together with representatives of the payment system industry which includes technical and security standards, data standards and technical specifications, as well as governance guidelines," he said.

Erwin added that the SNAP determination aims to create a healthy, competitive, and innovative payment system industry, encourage integration, interconnection, interoperability, as well as security and reliability of payment system infrastructure.

"Furthermore, BI will synergize with ASPI to support industrial innovation and encourage the acceleration of user integration and expansion of SNAP services," he stressed.

For information, SNAP is the national standard set by BI on a set of protocols and instructions that facilitate open interconnection in payment transaction processing. Since its launch on August 17, 2021, SNAP management has been carried out for the first time by Bank Indonesia.