BI reforms payment system industry regulations through seven key reinforcements

Bank Indonesia (BI) is reforming payment system industry regulations through seven aspects of reinforcement to build an industry that is more adaptive, resilient and able to keep up with the rapid development of digital transactions. Aldo Ersan Mangasi, an analyst at BI’s Payment System Policy Department, said the reform is part of the implementation of the Indonesia Payment System Blueprint (BSPI) 2030, which was prepared to maintain the industry’s resilience amid increasing digitalisation. “The regulatory reform is carried out to ensure the payment system industry remains agile in adapting to digital developments,” Aldo said in Jakarta on Wednesday. Aldo explained there are seven main aspects in the reform. First, the use of Transaction, Interconnection, Competency, Risk Management, and Technology Infrastructure (TIKMI) indicators as a measurement tool in the licensing process, operational activities, performance evaluation, and termination of payment system operators. Second, BI is restructuring participation in retail payment system infrastructure based on the classification of Main and Other operators according to their business scale and capabilities. Third, the reform also includes structuring business activities according to the risk level and classification of payment system operators. Fourth, strengthening regulations on cooperation between operators and third parties. Fifth, aligning the supervisory function with the TIKMI assessment supported by integrated data infrastructure. Sixth, strengthening payment system infrastructure and its data infrastructure. Seventh, institutional strengthening to support the development of digital innovation. Aldo said all these policies are designed so that innovation development proceeds in tandem with strengthened governance and risk control. He noted that the reform is stipulated through Bank Indonesia Regulation (PBI) Number 10 of 2025 concerning Payment System Industry Regulation, reinforced by Board of Governors Regulation (PADG) Number 32 of 2025 and Technical Guidelines Number 1 of 2026 as implementation guidance. However, Aldo conveyed that structuring the payment system industry requires support from all industry players, associations, authorities, ministries, and related institutions. “Bank Indonesia cannot work alone, so collaboration is key to building a healthy, competitive, and sustainable payment system ecosystem,” he said.