BI Renews Regulation on the Organization of Payment Systems

In an effort to support the digital reformation of payment systems within Indonesia, the Board of Governors of Bank Indonesia (“ BI ”) recently issued Regulation No. 24/7/PADG/2022 on the Organization of Payment Systems by Payment System Service Providers and Payment System Infrastructure Organizers (“ Regulation 24/2022 ”), [1] which establishes a comprehensive set of guidelines on the implementation of payment systems by the Payment Service Organizers (Penyedia Jasa Pembayaran – “ PJP ”) and Payment System Infrastructure Organizers (Penyedia Infrastruktur Sistem Pembayaran –“ PIP ”).