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

NORD-DuoDrive.jpg: The innovative and patented DuoDrive geared motor reaches outstanding system efficiency Image: NORD DRIVESYSTEMS

Selasa, 17 Mei 2022 - 14:00 WIB

NORD DRIVESYSTEMS at LogiMAT in Stuttgart From 31st May to 2nd June 2022 NORD will present innovative drive solutions for intralogistics

The specialist LogiMAT exhibition in Stuttgart offers as comprehensive overview of the intralogistics and process management market. As one of the market leaders for drive technology, NORD presents…

President Jokowi attends the meeting between ASEAN leaders and American entrepreneurs at Intercontinental the Willard Hotel, Washington DC, Thursday (05/12). Photo by: Laily Rachev

Selasa, 17 Mei 2022 - 13:00 WIB

President Jokowi Invites US CEOs to Boost Cooperation with Indonesia

President Joko “Jokowi” Widodo has invited company CEOs in the United States to boost cooperation with ASEAN countries, particularly Indonesia.

President Jokowi, President Biden, and ASEAN Leaders on a group photo prior to the dinner, at the White House, Washington D.C., Thursday (05/12)

Selasa, 17 Mei 2022 - 12:28 WIB

President Jokowi, ASEAN Leaders Attend Dinner Hosted by US President

President Joko “Jokowi” Widodo Thursday (05/12) attended a dinner with the leaders of ASEAN countries hosted by President of the United States Joe Biden at the White House, Washington D.C.

(Photo: © 2022 KRAIBURG TPE)

Selasa, 17 Mei 2022 - 11:23 WIB

TPE unleashes benefits for pet accessories

The pet care market is rapidly expanding as pet ownership increases, as does spending on pet food, grooming tools, and accessories. Pet owners are significantly concerned about the prevalence…

Sergey Sedov, Founder and CEO of Robocash Group

Jumat, 13 Mei 2022 - 16:15 WIB

Robocash Group reached 2 BN USD of disbursement and issued audited financial report of 2021

Robocash Group publishes the audited combined financial statements for the year ended 31 December 2021. The Group reached an all-time high 2 BN USD of issued financing and is expected to increase…