Jakarta (ANTARA) - Bank Indonesia\u2019s DKI Jakarta Provincial\nRepresentative Office (KPw BI) is strengthening oversight of payment\nsystem service providers through the analysis of periodic reports and\non-site examinations to ensure compliance with regulations and to\nsafeguard the payment system amid the industry\u2019s increasing\ncomplexity.<\/p>\n
\u201cSupervision is carried out through two mechanisms, namely off-site\nand on-site. There, we conduct verification and clarification of\nfindings, including the results of the supervision we carry out,\u201d said\nArif Waluyo Birowo, Executive Supervisor at KPw BI DKI Jakarta, on the\nsidelines of the Jakarta Secure Payment Summit (JSPay) 2026 in Jakarta\non Wednesday.<\/p>\n
He explained that supervision is conducted in two ways. First,\nthrough the examination of periodic and incidental reports submitted by\nproviders to identify potential risks and ensure compliance with Bank\nIndonesia\u2019s regulations.<\/p>\n
Second, through direct on-site examinations at providers\u2019 premises.\nIn these examinations, BI verifies findings while also evaluating\ngovernance, risk management, human resources, and information technology\nsystems.<\/p>\n
He said supervision also covers approvals for a number of business\nactivities, such as changes to management, capital increases,\ncooperation with other parties, and the development of new products\nsubmitted by providers.<\/p>\n
In addition, the scope of examination covers operational aspects,\nconsumer protection, the implementation of anti-money laundering and\ncounter-terrorism financing (APU PPT) programmes, as well as the\nreadiness of information technology systems.<\/p>\n
According to Arif, strengthened supervision is necessary because the\npayment system industry has grown increasingly complex.<\/p>\n
Over the past decade, the public has found it ever easier to transact\nthrough various digital transaction innovations connecting the real\nsector with the financial sector.<\/p>\n
\u201cWith growing business complexity, we remind providers to continue\nstrengthening risk management and the implementation of APU PPT so that\nthe payment system remains safe, reliable, and is not exploited as a\nvehicle for money laundering,\u201d said Arif.<\/p>\n
He noted that Jakarta has the largest concentration of payment system\nproviders in Indonesia.<\/p>\n
KPw BI DKI Jakarta currently supervises 66 payment system service\nproviders, or around 33 per cent of the national total.<\/p>\n
In addition, there are 304 non-bank foreign banknote exchange\nproviders (PUKA BB), or around 31 per cent of the national market, as\nwell as 18 UKA-licensed entities (BB UKA), or around 75 per cent of the\nnational total.<\/p>\n
Arif said BI is also carrying out regulatory reform by grouping\nproviders according to the complexity of their business activities.<\/p>\n
\u201cWe carry out this grouping so that supervision is better targeted\nand the application of requirements is fairer, in line with the business\ncomplexity of each provider,\u201d said Arif.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bi-jakarta-strengthens-oversight-of-digital-payment-system-providers-1785313471", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }