PAYMENT SYSTEM STANDARDIZATION  REGULATORY REFORM  BI-FAST Integrated Regulatory, Licensing, Supervisory, and Reporting  The Eﬀorts to Find a Balanced Point between Optimizing Onnovation and Maintaining Stability and National Interest  Regulatory Framework Restructurization  Payment Systems Regulatory Reform through Restructuring Regulatory Framework and Drafting Bank Indonesia Regulation (PBI) concerning the Payment System  Regulatory Drafting/ Adjustment  End to End Risk-based  Principle-based  REGULATORY PRINCIPLES Structured  Agile & Forward Looking  Proportional  3 STAGES  FOSTERS INTERCONNECTION, INTEROPERABILITY, AND COMPATIBILITY ASSURES INTERLINK BETWEEN FINTECH AND BANKS MAINTAIN THE LEVEL PLAYING FIELD TO MITIGATE SHADOW-BANKING PRACTICES  2021  Credit Transfer (Phase 1, Stage 1)  2023  Issued Bank Indonesia Regulations (PBI): PBI No.
22/23/PBI/2020 concerning the Payment System, December 20, 2020 PBI No. 23/6/PBI/2021 concerning Payment System Provider and PBI No. 23/7/PBI/2021 concerning Payment System Infrastructure Providers, July 1, 2021 PBI No. 23/11/PBI/2021 concerning Payment System National Standard, August 12, 2021  QR Code Indonesian Standard  ISSUED PADG NO.