BI Jakarta Strengthens Oversight of Digital Payment System Providers
Jakarta (ANTARA) - Bank Indonesia’s DKI Jakarta Provincial Representative Office (KPw BI) is strengthening oversight of payment system service providers through the analysis of periodic reports and on-site examinations to ensure compliance with regulations and to safeguard the payment system amid the industry’s increasing complexity.
“Supervision is carried out through two mechanisms, namely off-site and on-site. There, we conduct verification and clarification of findings, including the results of the supervision we carry out,” said Arif Waluyo Birowo, Executive Supervisor at KPw BI DKI Jakarta, on the sidelines of the Jakarta Secure Payment Summit (JSPay) 2026 in Jakarta on Wednesday.
He explained that supervision is conducted in two ways. First, through the examination of periodic and incidental reports submitted by providers to identify potential risks and ensure compliance with Bank Indonesia’s regulations.
Second, through direct on-site examinations at providers’ premises. In these examinations, BI verifies findings while also evaluating governance, risk management, human resources, and information technology systems.
He said supervision also covers approvals for a number of business activities, such as changes to management, capital increases, cooperation with other parties, and the development of new products submitted by providers.
In addition, the scope of examination covers operational aspects, consumer protection, the implementation of anti-money laundering and counter-terrorism financing (APU PPT) programmes, as well as the readiness of information technology systems.
According to Arif, strengthened supervision is necessary because the payment system industry has grown increasingly complex.
Over the past decade, the public has found it ever easier to transact through various digital transaction innovations connecting the real sector with the financial sector.
“With growing business complexity, we remind providers to continue strengthening risk management and the implementation of APU PPT so that the payment system remains safe, reliable, and is not exploited as a vehicle for money laundering,” said Arif.
He noted that Jakarta has the largest concentration of payment system providers in Indonesia.
KPw BI DKI Jakarta currently supervises 66 payment system service providers, or around 33 per cent of the national total.
In addition, there are 304 non-bank foreign banknote exchange providers (PUKA BB), or around 31 per cent of the national market, as well as 18 UKA-licensed entities (BB UKA), or around 75 per cent of the national total.
Arif said BI is also carrying out regulatory reform by grouping providers according to the complexity of their business activities.
“We carry out this grouping so that supervision is better targeted and the application of requirements is fairer, in line with the business complexity of each provider,” said Arif.