DANA Digital Wallet Has Officially Implemented BI FAST In Its App

DANA digital wallet illustration (photo: DANA)

JAKARTA - Monday, March 20, the DANA digital wallet, which is committed to supporting the 2025 Indonesian Payment System Blueprint (BSPI), has officially joined as one of the first Nonbank PJP to implement BI FAST.

"The policy synergy and implementation of BI FAST for Nonbank PJP such as DANA, is an important momentum to show the identification of the involvement of digital wallets for accelerating financial inclusion in the country," said Vince Iswara, CEO and Co-Founder of DANA Indonesia in a written statement received in Jakarta.

Furthermore, Vince also said that the application of BI FAST could provide new added value for the ease of sending and receiving money to users, as well as encouraging national economic growth.

The renewable innovation owned by BI FAST is designed to modernize the Bank Indonesia National Clearing System (SKNBI) and is a payment system infrastructure provided by the central bank that can be accessed through applications in facilitating retail payment transactions for the public online.

Unlike SKNBI, BI FAST will operate for 24 hours, so that the public's need for fund transfer services is more efficient, fast (real-time), and available at all times.

BI FAST will be a breath of fresh air for the growth of digital wallets, because the cost set from Participants to Customers is IDR 2,500 per transaction, from the previous IDR 6,500 per transaction via SKNBI.

According to Bank Indonesia's official statement, in this sixth batch, there are 14 banks that are members of BI-FAST participants, namely 11 National Private Banks, 2 Regional Development Banks (BPD), and 1 Foreign Bank.

The success of its initial and subsequent implementation in the banking and non-banking sectors is evidence of an innovative, collaborative, payment system with maintained security standards.

In line with the consumer-centric BI-FAST service, we will also continue to optimize the benefits of BI-FAST services to all users through sustainable education. Thus, users can experience a more secure, easy, and comfortable digital transaction experience," concluded Vince.