BI Finally Issues Provisions on Indonesia Payment Systems

As a follow up to the various initiatives that were originally enacted under the 2025 Indonesian Payment System Blueprint, [1] Bank Indonesia (“ BI ”) now has issued Regulation No. 22/23/PBI/2020 on Payment Systems (“ Regulation 23/2020 ”), which has been primarily designed in order to restructure Indonesia’s Payment System (Sistem Pembayaran– “ SP ”) industry while maintaining the development of the SP Industry in line with developments in SP digitalization and innovation. [2]