This transformation has been one of Bank Indonesia’s initiatives which includes in the Indonesian Payment System 2025 vision.
If we were asked what is the thing that help us get through the pandemic, one answer for sure is the digital technology. Its adoption has been accelerated and one of which is the payment instrument digitisation. Fitria Irmi Triswati, Group Head of Payment System Policy Group, Bank Indonesia said that, Bank Indonesia responding to the digital phenomenon and realises that as the authority, it must be able to strike the right balance between innovations and risk mitigation.
In supporting the transformation, together with Bank Indonesia, we held an interactive discussion with our clients to gather ideas and challenges on cashless transaction practice in their businesses’ s supply chain.
“The rapid change in the Indonesian people’s behavior towards cashless society has been accelerated by the pandemic. Cashless society is at the core objective of Bank Indonesia who continues to facilitate the transformation process and will bring about benefits such as increased speed of transactions, lower cost in currency management and robust data gathering. One key milestone is the issuance of a standardized QR for payments across digital wallet providers last year to support the fast growing E-commerce sector,” said Eri Budiono, Commercial Banking Director of, PT Bank HSBC Indonesia, during his opening speech.