Payment ID Still Under Development, BI Says No Institutions Are Ready

Bank Indonesia (Photo: Doc. VOI)

JAKARTA - Head of the BI Payment System Policy Department (DKSP) Dicky Kartikoyono emphasized that there are no financial institutions or banks that are officially ready to fully use the Payment ID system.

"No one is ready (banking institutions) yet. So back again I said no one was ready because the goods were not there yet," he told VOI when contacted, Thursday, August 7.

He conveyed that in building a system, it must depart from a mature experience and design, not just assumptions, so everything must be prepared in advance, the results cannot be ascertained from the start without going through a comprehensive trial process.

Dicky added that in carrying out the entire series of trials, it is necessary to pay attention to various aspects, such as data structures, the acquisition mechanism, and the readiness of supporting infrastructure.

"Yes, we have to prepare everything first, it is impossible for us to confirm from the start without conducting the trial," he explained.

Dicky emphasized that the Payment ID system is not yet fully available and if it is available, the implementation process will take several years.

He added that the potential use of Payment ID in supporting financial and digital inclusion into the national economy could not be explained in detail because it had to go through various trials.

In addition, he added that in implementing Payment ID in the future, consumer protection must also be considered and comply with all regulations that apply in banking.

Dicky added, for example, if a data wants to be used, then the party who has the right to the data must give direct approval.

"For that, based on the consensus, later every party who will use it must comply with existing provisions, it cannot be arbitrary," he said.

He added that all data collection and utilization processes in Payment ID must be carried out based on regulations and approval from related parties.

"Yes, only those who agree, if they don't agree, what are we going to do, when we want to violate the right to protect our personal data, it's impossible. What's the name, if it's violated like that, it will definitely violate consumer rights, starting from all parties, we will definitely respond, we don't have the right if it's not based on approval, you know," he added.

Dicky said that currently banking and technology infrastructure still requires further development.

According to him, this process is designed in stages in several phases and cannot be realized instantly, to carry out the full implementation of Payment ID is expected to take about four years.

"We are preparing all the cooperation with the industry to be built in stages. It will take time to follow with clarity that the provisions cannot be done at once. In the Blueprint of the Indonesian Payment System (BSPI), it feels like if you look at the blueprint of the Indonesia payment system in 2030, it looks like the process is gradual," he said.