Supporting Digital Payment System, UOB Bank Launches BI FAST On TMRW Application

Illustration. (Photo: Doc. Antara)

JAKARTA - Bank UOB Indonesia officially features BI-FAST on TMRW, which is UOB's digital banking application. Through this feature, it is hoped that customers can transfer funds in rupiah at a cost that is more affordable, safer, faster, and carried out in real-time.

UOB Indonesia is one of the banks in the first phase to introduce the BI-FAST feature. This feature also allows the transfer of funds between banks using the recipient's mobile number or email address that acts as a proxy for the recipient's bank account.

President Director of UOB Indonesia, Hendra Gunawan, presents progressive and innovative solutions, not only relevant to customers' lifestyles but also tailored to their needs.

"We are pleased to be one of the first banks to provide BI-FAST services so that transferring funds can be more affordable and reliable for customers," he said in a statement to the media quoted on Tuesday, January 25.

Hendra added, along with the development of e-commerce, digital payments are predicted to reach 91 percent of total e-commerce payments by 2025. Indonesia is projected to become one of the largest markets for e-commerce payments, followed by Vietnam and Thailand. .

He added, along with the increasing use of digital banking services in Indonesia and the decreasing use of cash, his party observed the significant growth of TMRW customers in the past year.

"Our customers are also increasingly interested in using digital payment methods that are convenient and secure," he added.

UOB Indonesia also supports the National Non-Cash Movement which enables digital payments through the Quick Response Code Indonesian Standard (QRIS) on the TMRW application.

BI-FAST was launched on December 21, 2021 by Bank Indonesia. In the early stages, the focus was on credit transfer services between individual customers. BI-FAST itself is a real-time payment system infrastructure that is available 24 hours in 7 days, and aims to provide fast, convenient, affordable, safe and reliable payment services (CEMUMUAH).