Bank Indonesia Reveals Indonesia Recognized as a Key Player in Economic and Financial Digitalization

JAKARTA - Bank Indonesia (BI) Governor Perry Warjiyo said that the national digital transformation has made Indonesia recognized as a fast country and a major player in the digitalization of the economy and finance.

"Indonesia is now recognized as a fast country and a major player in the digitalization of the economy and finance," he said at the Opening Ceremony of the Digital Economy and Finance Festival (FEKDI) X Karya Kreatif Indonesia (KKI) 2024, Thursday, August 1.

According to Perry, this is because in the last five years, the national digital transformation has accelerated rapidly. The digitalization of payments and finance has saved the national economy from the COVID-19 pandemic.

In addition, Perry said that after the COVID-19 pandemic, acceptance or use of digital has become more widespread in society, thus encouraging the participation of the business sector and society in developing new, productive and innovative digital-based business models.

"We at Bank Indonesia are happy to be able to make a real contribution to national digitalization, especially through the Indonesian payment system blueprint (BSPI) which we launched in 2019 until 2025," he said.

Perry said that there are more than 50 million QRIS users, most of whom are Micro, Small, and Medium Enterprises (MSMEs).

In addition, BI-FAST transactions are growing rapidly, and are increasingly popular with the public due to their low costs. The electronification of social programs, government, and government financial transactions, even the use of Indonesian credit cards, has facilitated government financial transactions.

"Digital banking and financial services have now become the progress of our banking industry and payment system. Likewise, fintech, e-commerce, and marketplaces have also grown greatly. Regulatory reforms strengthen the national payment industry," he added.