BI Ready for Second Phase of Payment Gateway System

Bank Indonesia (BI) has said the government is on track with its preparations to launch the second phase of the National Payment Gateway (NPG), which will allow lenders to cut cross-bank transaction costs through more efficient processes.

The first phase of the NPG, which was launched by the central bank in December last year, included infrastructure sharing by a number of banks to cut the cost of interbank transactions as well as cashless payment for toll road users.

BI director for electronics and financial inclusion Pungky Purnomo Wibowo said in Jakarta on Monday that the central bank had established the transaction standards and also the fees to be charged to consumers for bank transactions.

The transaction standards are needed for the implementation of the planned Multi-Lane Free Flow (MLFF) system to be implemented on toll roads, which means drivers will no longer have to tap their cards at toll gates to pay the tolls.

In addition to the smoother inter-bank transactions, the NPG’s second phase will also provide payment facilities for 20 main utilities, including electricity and phone bills, Pungky added.

“BI will arrange which parties will be in charge for these utility payments,” he said.

Courtesy : TheJakartaPost , Berita Partai Politik

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