BI Prepares Superior Program To Develop Digital Economy In Indonesia

JAKARTA - Bank Indonesia (BI) said it had prepared several flagship programs in 2024 for the development of a digital transaction ecosystem in Indonesia to abroad.

"In the short term in 2024, the payment system initiative will focus on 5 programs," said BI Deputy Governor Juda Agung at the Launch of the White Book, Indonesia's National Strategy for Digital Economy Development 2030, Wednesday, December 6.

Juda explained that the first program was the development of the BI Fast payment system. Where BI Fast will be more connected, interoperable and integrated with the National Payment Gate (GPN).

Furthermore, the second program is the development of a third generation big value payment system or BI Real Time Gross Settlement (RTGS). According to Juda, this third generation will be more modern, multicurrency and international standard.

Juda said BI would also develop a payment transaction data center. He said the development of the data center would be carried out using Artificial Intelligence (AI). "This includes the context of AI for handling and preventing fraud," he said.

"The third program of development at the payment transaction data center is for payment innovation with Artificial Intelligence (AI). Including utilizing data in the QR system that uses AI, and also in the context of using AI for handling and preventing fraud," he said.

Juda conveyed that the fourth program is the development of Rupiah digital as the only legal digital payment tool in Indonesia. "Where in 2024 will enter the proof of concept stage," he said.

Then the fifth program that will be carried out by BI is the expansion of QRIS and BI Fast cooperation in ASEAN. According to Juda, the two payment methods will also be developed in India, Japan, China and the United Arab Emirates.