Many MSMEs reported a rise in incomes due to business digitization and ability to reach a wider customer base. During the pandemic, ~12 million MSMEs switched to online platforms to sell their products. The government is targeting 18 million more
BI has yet to announce the issue date for Central Bank Digital Currency (CBDC), but shared that it will involve a multi-year implementation plan. On-going evaluations are performed by BI to understand implications on the macro economy, monetary and fiscal
Governor of Bank Indonesia (BI) Perry Warjiyo stated that BI Fast Payment system will be launched this year to replace National Clearing System (SKNBI). This upgrade will speed up bank clearing time from 2-3 days to real-time. In addition, BI
There has been a rapid uptake of QR code-based payment systems in Indonesia. This is more profoundly observable in the traditional market, Pasar Indah Kapuk in North Jakarta. Bank Indonesia aims to accelerate digital payments and access to finance for
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