SNAP intends to create a healthy, competitive, and innovative payment system industry that can provide efficient, secure and reliable payment system services to the public. SNAP was launched on 17th August 2021 and will be adopted gradually, commencing in June 2022 for first mover payment service providers and in December 2022 for other PJPs.
Bank Indonesia is confident that SNAP implementation will facilitate interconnection, interoperability, and compatibility between Open API payment providers, thereby strengthening the links between PJP banks and non banks. In addition, SNAP also establishes a level playing field between payment industry players, thus minimizing fragmentation and accelerating the digital economy and finance in Indonesia.