Bank Indonesia (BI) has revealed that it is developing a new generation of BI-FAST services as part of the Roadmap Blueprint for the Indonesian Payment System 2030.
The update is aimed at making transactions easier, including transferring funds abroad.
Deputy Governor of BI Filianingsih Hendarta said that this new system was designed with better standards, more efficient, and has a wider service coverage.
He added that from a technical, business, to governance perspective, this development aims to strengthen long-term interoperability and efficiency.
"Currently, we at Bank Indonesia are preparing the new BI Fast, the new BI Fast, and the fast payment industry. So, with a more standardized and good arrangement, from a technical, business and governance perspective, this is to ensure long-term interoperability and efficiency," he said in a virtual press conference, Wednesday, April 22.
In addition, Filianingsih explained that the latest version of BI-FAST was also prepared to accommodate the increase in transaction volume in the future, as well as equipped with a stronger risk management system to anticipate potential fraud and cyber threats.
In the future, he said, this service will also support cross-border payments through the nexus scheme, which includes a number of countries such as Malaysia, Singapore, Thailand, the Philippines, India, and the European Union region.
"this is also equipped with a cross border feature so that it can facilitate cross-country retail payments using instant payments through the nexus scheme where members of the nexus will be in Malaysia, Singapore, Thailand, the Philippines and India, as well as the European Union, which is currently still an observer," he said.
The use of BI-FAST continues to show significant growth, namely in the first quarter of 2026, the transaction volume reached 1.4 billion or increased 31 percent year-on-year, with an average daily of 15.6 million transactions.
Meanwhile, in terms of value, transactions recorded reached IDR 3,519 trillion, or up 28.35 percent compared to the same period last year.
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