The two BI regulations intend to strengthen the Indonesian payments ecosystem end-to-end and encourage healthy business practices through industry collaboration to accelerate an inclusive digital economy and finance. Licensing has been simplified by applying principle-based rules and granting permits to groups of payment service types rather than the previous arrangement with rigid (rules-based) requirements for each service type.
This has been applied to processing licenses for payment service providers (PSP),designating payment system infrastructure operators (PIP)as well as processing the development of risk-based activities, products, and/or cooperation. Bank Indonesia also continues to develop integrated, interoperable, and interconnected payment system infrastructure to support the national digital economic and financial ecosystem.