BI Will Start Payment ID Trial, What Is It And How Does It Work?

JAKARTA - Bank Indonesia will soon conduct a trial payment system based on the Population Identification Number (NIK), which is known as Payment ID, on August 17.

Payment ID is part of the development of BI Payment Info data infrastructure in the 2030 Blueprint Indonesian Payment System (BSPI).

This sophisticated payment system will come with nine unique characters in the form of letters and numbers, which function to become the identity of each community.

Bank Indonesia said that Payment ID is designed to detect and record the history of public financial transactions in more detail, both transactions through e-wallet, mobile banking, e-commerce, and tax payments.

According to BSPI 2030, Payment ID has three main functions, namely: first, as the key to identification to form the profile data of the perpetrators of the payment system, then as the key to data authentication in transaction processing.

The third function is as unique key in the aggregation process between individual profile data and granular transactional data.

Payment ID will be developed in stages, with the first stage through the BI-led approach with an implementation target by 2027.

In the next milestone, Payment ID will be developed through an integrated approach with a full implementation target by 2029.

Launching ANTARA, Head of the BI Payment System Policy Department Dicky Kartikoyono said BI would ensure that Payment ID development and use are fully subject to the principle of confidentiality of personal data as regulated in the Personal Data Protection Act (UU PDP).