Bank Indonesia Efficiency of Interconnection Payment System

By : Abraham Sihombing And Aldo Bella Putra | Monday, December 04 2017 - 22:30 IWST

Bank Indonesia
Bank Indonesia

INDUSTRY.co.id - Jakarta - Bank Indonesia (BI) conducts efficiency in the interconnection payment system by launching a platform called the National Payment Gateway (GPN) or also known as the National Paymen Gateway (NPG).

The platform can then cut the cost of interconnection payments, making it cheaper. In addition, all payment transactions through these platforms can be done domestically so that the system is assessed to be safer, faster and more efficient.

During this time, domestic interconnection payment process is still going abroad. Because the Indonesian banking sector is still using a platform which is a foreign product to run the interconnection payment system.

"The previous interconnection payment process is done overseas and then routed back to Indonesia so it is inefficient. The reason is, there are still costs to pay for such processing services," said Agus Martowardojo, Governor of Bank Indonesia (BI) in Jakarta, Monday (04/12/2017).

Agus explained, for now, such interconnection payment process is not efficient anymore because about 80% actually happens in the country and the remaining 20% ​​overseas.

News Comment

Today's Industry

Wellington College Independent School Jakarta (WCIJ)

Senin, 29 April 2024 - 05:02 WIB

One of the UK’s Most Established Schools Chooses Jakarta for Their Latest Opening

Wellington College Independent School Jakarta (WCIJ) is thrilled to announce its grand opening in September 2024! As the first private UK school to open in Indonesia, WCIJ, a pioneering co-educational…

Presiden Jokowi

Selasa, 23 April 2024 - 10:29 WIB

President Jokowi Reaffirms Commitment to Farmers’ Welfare

President Joko “Jokowi” Widodo on Monday (04/22) inspected corn harvest in Boalemo regency, Gorontalo province. “Our corn import has decreased significantly from 3.5 million tonnes to…

Photo: Aris Nurjani/VOI

Rabu, 28 Februari 2024 - 12:47 WIB

Carsurin and NBRI Strengthen Strategic Alliance to Propel Indonesia’s EV Industry

PT Carsurin Tbk ("Carsurin") and the National Battery Research Institute ("NBRI") are pleased to announce the signing of a pivotal Strategic Alliance Agreement (SAA), marking a significant advancement…

Beras (Foto/Rizki Meirino)

Rabu, 21 Februari 2024 - 08:43 WIB

Gov’t to Continue Disbursing Rice Assistance

President Joko “Jokowi” Widodo has ensured that the Government will continue rolling out the rice assistance program for low-income families. The President made the statement when handing…

Ilustrasi pabrik beras. (Foto: DetikFood)

Rabu, 21 Februari 2024 - 08:40 WIB

Bapanas Head Ensures Availability of Rice Stock Ahead of Ramadan

The National Food Agency (Bapanas) has ensured the availability of rice for the fasting month of Ramadan and Eid al-Fitr 1445 Hijri/2024 CE. “We believe that there is enough rice for the fasting…