“According to Bank Indonesia Regulation on Payment System Provider and Payment System Infrastructure Provider, the licensed applicant required legal due diligence from an independent law consultant.” Starting from 1 July 2021, Bank Indonesia, through Bank Indonesia Regulation No. 22/23/PBI/2020 on Payment System (“PBI 22/2020”), has reformed the payment system provisions digitalization and innovation of payment […]
PBI 23/2020 has amended Payment System regulation, which restructuring the regulatory framework for Payment System, including reclassifying the activities of the Payment System operator.
Author: Kristalia Andiani Puteri with Felicia Cindy Hanubrata “The rise of Financial Technology (“fintech“) must be accompanied by adequate regulation, supervision and monitoring as stipulated by Bank Indonesia Regulation No. 19/12/PBI/2017. Furthermore, Bank Indonesia introduced the categorisation of payment service providers and cooperation between the fintech and payment service providers through Bank Indonesia Regulation No. […]
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