Jakarta - Bank Indonesia Fast (BI-Fast) as national retail, fast payment for industry, retail, and MSME players through online transactions will be inaugurated in December 2021.

Governor of Bank Indonesia (BI) Perry Warjiyo said that BI-Fast would later aim to realize digital transaction activities so that they run real-time both at Banks or Non-Bank Financial Institutions and customers for 24x7 to accelerate the clearing system of financial transactions.

"We've been working with industry, all our policies, working with industry, and in December, we will launch Bank Indonesia fast payments, retail, transactions, payment settlements, 24x7 real-time first settlement, and clearing and also transactions for all retail markets," said Perry in the OJK Virtual Innovation Day 2021 webinar on Tuesday (12/10).

According to Perry, throughout 2020 and 2021, the central bank saw the development of Indonesia's digital economy and finances getting fa