JAKARTA - Bank Indonesia (BI) said that the pandemic had presented a momentum to accelerate digitalization in the use of transactions and economic activities.
BI Deputy Governor Aida Budiman said the digitization of Indonesia's payment system, supported by the Payment System Blue Print (BSPI 2025) initiative, was a game changer for efforts to recover together and build a sustainable economy.
"Synergy accompanied by fintech initiatives and local digital financial players is needed to encourage the Indonesian economy to continue to grow," she said while speaking at the G20 Finance Track side event forum on Wednesday, July 13.
According to Aida, BI's three digital payment initiatives with the national industry as a follow-up to the BSPI 2025 include QRIS, BI-FAST and SNAP. He said this effort was an important step for expanding access to payments for the entire community.
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“BI presents three commitments to accelerate the digital economy and financial ecosystem. First, regulatory reform to accelerate industrial consolidation. Second, infrastructure development. And the last is the development of an efficient and balanced market," she said.
Furthermore, Aida explained that inclusive and sustainable digitalization must be widely open to the community and allow further collaboration between existing stakeholders.
"This must be able to reduce inequality for the general public and strengthen synergies, both from the side of regulators and business actors," she concluded.
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