Getting To Know Payment ID: NIK-Based Unique Code To Track Financial Transactions

YOGYAKARTA Ahead of the 80th Anniversary of the Republic of Indonesia, Bank Indonesia (BI) will conduct a trial of a new innovation called Payment ID. As the name implies, Payment ID is related to an integrated payment system. To get to know Payment ID, see the following article.

In simple terms, BI's state-of-the-art financial system Payment ID is to track down the financial transactions of the owner of the Identity Card (KTP). This Payment ID consists of nine unique code characters for the combination of letters and numbers used as financial identities in the payment system.

This means that the unique Payment ID code will be connected to all of its owners' financial transactions, whether done through bank accounts, e-wallets, or other payment applications. Not only simply connected, the Payment ID system will also save all financial transactions.

There are at least three benefits obtained from the presence of Payment ID developed by BI, namely as follows.

As explained earlier, Payment ID will store various important information for each individual related to finance. This information can be accessed but the application for access is said to be very limited.

Reporting from Antara, Head of the BI Payment System Policy Department Dicky Kartikoyono explained that Payment ID can only be used by certain authorities. In addition, access can only be obtained based on the approval of the data owner (private consent).

Dicky also emphasized that the development and use of Payment ID will comply with the principle of confidentiality of personal data in accordance with the Personal Data Protection Act (UU PDP).

Similar, the Director of the BI Payment System Policy Department, Dudi Dermawan Saputra, also explained that financial institutions or third parties who want access to customer financial information must apply through the Infrastructure Exchange Application (IAEA) system managed by BI.

After that, BI will forward the request to the data owner via notification. If the data owner approves the distribution of his personal data, the customer profile will be shared with third parties who apply. Third parties will receive data information such as a history of transactions (payment history) and customer profiles.

On the other hand, if BI and the data owner do not approve the request for an application, then the data will not be distributed further.

There is no definite information regarding the official launch schedule of Payment ID. However, Dicky Kartikoyono explained that BI will start a Payment ID trial in August. Meanwhile, the system can only be used in certain cases.

"Currently Payment ID is still in the trial/experiment stage to be used in only one particular use case, namely assisting the accuracy of the distribution of non-cash social assistance, which will begin the process on August 17," said Dicky, quoted from Antara, Friday, August 1.

In addition to knowing Payment ID, visit VOI.id to get other interesting information.