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View all search resultsBI: Payment gateway saves Rp 17.75b daily in transaction costs
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The Bank Indonesia (BI) logo appears on the gate to its Jakarta headquarters. (Antara/File)
B
ank Indonesia has said that the national payment gateway (GPN) saves Rp 17.75 billion (US$1.23 million) in transaction costs per day.
BI electronification and GPN executive director Pungky Purnomo Wibowo said that before the network was launched in October 2017, daily "off us" transactions – cards swiped at the EDC machines of other banks – cost merchants Rp 25 billion per day.
Today, the daily average merchant cost from "off us" transactions was Rp 7.25 billion per day, he added.
"So daily savings are around Rp 17 billion," Pungky said on Monday at a press conference in Jakarta. He also said that before the GPN, the average merchant discount rate for "off us" transactions was 3.5 percent, and that the central capped the rate at 1 percent after the GPN was launched.
The GPN network is supported by four switching companies: Artajasa Pembayaran Elektronis (ATM Bersama), Alto Network (Alto), Rintis Sejahtera (Prima) and Jalin Pembayaran Nusantara (Link).
Under BI regulations, all transactions involving local debit cards must be processed locally on the GPN network.
BI electronification and GPN deputy director Aloysius Donanto said from October 2017 to June 2018, the network had processed 24 million transactions worth Rp 11.58 trillion.
"Transactions are gradually increasing as more banks integrate their system with the GPN. In October, there were only five banks, but today more than 60 banks actively make transactions on the GPN," Aloysius said. (bbn)
