BI Fast Transactions Touch IDR 339 Trillion In The Second Quarter, Until The End Of The Year Targets IDR 1.782 Trillion

BI Governor Perry Warjiyo (left) when giving a press statement (Photo: screenshot of the Ministry of Finance's Youtube)

JAKARTA - Governor of Bank Indonesia (BI) Perry Warjiyo said the latest developments in the implementation of BI Fast experienced significant growth in the last few months.

In Perry's notes, the value of financial transactions through the central bank's policy has reached IDR 339 trillion during the second quarter of 2022.

"This result is much higher than the first quarter of 2022, which was Rp. 139 trillion," he said through a digital channel when answering reporters' questions on Monday, August 1.

Meanwhile, in terms of transaction volume, the trend was the same from 41 million transactions in the first quarter to 87 million transactions in the second quarter.

Through the nicks obtained in the first semester, the BI boss is optimistic that the utilization of BI Fast will be higher until the close of the year.

"We estimate that for the entire 2022 period the number of transactions could reach 459 million transactions with a value of IDR 1.782 trillion," he said.

For information, BI Fast is the latest service from Bank Indonesia that allows interbank customer transactions to be cheaper at a cost of IDR 2.500 from the previous IDR 6.500.

Currently, there are 52 financial institutions that have been connected to the BI Fast facility, which represents 82 percent of the national payment system market share.

BI Fast itself was first launched at the end of 2021 and is expected to encourage innovation in fast, easy, cheap, and secure payment transactions for all people.