In this context, since June 2022 SNAP has included 15 operators (comprising of 5 bank Payment Service Providers (PJPs), 4 electronic money PJPs, 3 payment gateway PJPs, and 3 e-commerce providers) as the first movers who are market leaders (Figure 6). In the next phase, 86 additional PJPs have been targeted to become the second movers and to start operating in early 2023.
The expansion of SNAP implementation is expected to strengthen the interlink between the bank and nonbank PJPs and maintain a level playing field between players, thereby reducing fragmentation and supporting the acceleration of the digital economy and finance in Indonesia. Payment system policy support for economic recovery through pricing policies continues.