Day: August 1, 2021

Following the enactment of Bank of Indonesia (“BI”) Regulation Number 22/23/PBI/2020 of 2020 on Payment System (“PBI 22/2020”) which has become effective as of 1 July 2021, BI has issued BI Regulation Number 23/6/PBI/2021 on Payment System Providers (“PBI 23/6/2021”) as the implementing regulations regarding payment system providers under the framework of the new payment…

As of 1 July 2021, Bank of Indonesia (“BI”) Regulation Number 22/23/PBI/2020 of 2020 on Payment System (“PBI 22/2020”) which was issued on 30 December 2020 has officially become effective. Henceforth, PBI 22/2020 shall serve as the umbrella regulation of Indonesia’s payment system. PBI 22/2020 is expected to bring much-needed reformation in the payment system…