Bank Indonesia: BI Fast Participants Will Add 25 Banks, Total 85 Percent Of Payments Will Be Represented

JAKARTA - Governor of Bank Indonesia (BI) Perry Warjiyo said that on August 29, there will be an additional 25 banks that will become new participants in the implementation of the BI Fast scheme.

According to him, the plan to join dozens of new banks will be in batch four, bringing the total number of BI Fast participants to 77 institutions.

"This will represent around 85 percent of the national retail payment system share," he said through a virtual channel on Tuesday, August 23.

Perry added that his party also added central banking services through BI Fast to support the implementation of Bank Indonesia's tasks in the monetary, macroprudential, and payment systems and rupiah money management.

"Going forward, Bank Indonesia will continue to encourage the implementation and development of BI Fast services, including cross-border retail payments, as well as strengthening policy synergies with industry players, to accelerate economic recovery and encourage growth, as well as economic and financial inclusion," he stressed.

According to VOI records, one of the advantages of BI Fast that can be directly felt by the public is the reduction in interbank transfer fees from the previous Rp6,500 to Rp2,500.

The following are the 25 banks that will become BI Fast participants in wave four.

1. Bank BTPN

2. Bank Capital Indonesia

3. Bank CTBC

4. Bank ICBC Indonesia

5. Bank Index Selindo

6. Bank Jago UUS

7. Bank Jasa Jakarta

8. Mayapada Bank

9. Bank Mayora

10. Bank Muamalat

11. Bank Nagari UUS

12. Neo Commerce Bank

13. Development Bank of the Special Region of Yogyakarta

14. Regional Development Bank of the Special Region of Yogyakarta UUS

15. West Kalimantan Regional Development Bank

16. Regional Development Bank of West Kalimantan UUS

17. South Kalimantan Regional Development Bank

18. Regional Development Bank of South Kalimantan UUS

19. West Sumatra Regional Development Bank

20. Regional Development Bank of South Sumatra Bangka Belitung

21. Regional Development Bank of South Sumatra Bangka Belitung UUS

22. Seabank

23. Maybank Indonesia

24. Maybank Indonesia UUS

25. MNC Bank