Jakarta - Bank Indonesia (BI) from December 2021, will implement BI-Fast as a replacement for the Bank Indonesia National Clearing System or SKNBI.

Assistant Governor Head of the BI Payment System Policy Department Filianingsih Hendarta said the presence of BI-Fast is an effort to meet the needs of customers who want transaction speed.

"To fulfill customers' wishes quickly, anytime and anywhere so that transfers can be made directly, later BI-Fast promises 25 seconds to directly enter the money," she said in a statement on Thursday (4/11).

With a faster transaction settlement time, the volume of services completed per day will also be greater.

BI estimates that BI-Fast can complete up to 2,000 transactions per or 30 million transactions per day.

BI-Fast was also developed to create a national retail payment system infrastructure that focuses on customer needs through 24/7 operational features, real-time settlement, auto