JAKARTA. Today, Bank Indonesia (BI) officially launched BI Fast Payment, which allows the interbank transfer fee to be set to IDR 2,500. By far, 21 banks have been reported to join this latest BI Fast Payment program.

Perry Warijyo, Governor of Bank Indonesia, said that BI Fast would be available for individual credit transfers for users all across Indonesia. This service would be extended to cover retail transactions in general, including bulk credit, direct debit, and requests for payments. “Next, BI would offer its full support to prepare the human resources, technology, and system,” he added during the BI Fast launch today (21/12).

According to Warijyo, there have been 21 banks and sharia units at the ready to launch the earliest stage of BI Fast today (21/12). The banks in question are BTN, DBS Indonesia, Bank Permata, Bank Mandiri, Bank Danamon, CIMB Niaga, BCA, HSBC, UOB, Bank Mega, BNI, BSI, BRI, OCBC NISP, UUS BTN, UUS Permata, UUS CIMB Niaga, UUS Danamon, BCA Syariah, Bank Sinarmas, Citibank, and Bank Woori.

Warijyo also revealed that other institutions would follow during the second phase, taking place on the fourth Sunday in January 2022. They include KSEI, Bank Sahabat Sampoerna, Bank Harda Internasional, Bank Maspion, KEB Hana, BRI Agroniaga, Ina Perdana, Bank Mantap, Bank Nobu, UUS Jatim, Jatim, Multi Artha Sentosa, Bank Mestika Dharma, Bank Ganesha, UUS OCBC NISP, bank Digital BCA, UUS Sinarmas, Bank Jateng, UUS Jateng, Standard Chartered, BPD Bali, and Bank Papua. “We hope that in 2022, all industry players could already utilise BI Fast for the public needs,” he stated.

The central bank has set the BI Fast to its participants, both banks and non-bank institutions, of IDR 19 per transaction. Meanwhile, the limit of the transfer fee from institutions to users is set to IDR 2,500 per transaction. BI has designed the service to handle 30 million transactions per day, dealing with 2,000 transactions per second in this early stage of operation. (AM/ZH)