August 8, 2025 | 03:24 pm
Bank Indonesia (BI) is set to launch a new digital payment system called Payment ID to coincide with Indonesia's 80th Independence Day on August 17, 2025. The system is designed to create a more transparent, integrated, and inclusive payment ecosystem.
"Payment ID will be the foundation of a transparent and responsible payment system," said Dudi Dermawan, Director of Bank Indonesia's Payment System Policy Department, during an Editors' Briefing in Labuan Bajo on Friday, July 18, 2025.
What is Payment ID?
Payment ID is an identity based on the Citizens' Identity Number (NIK) that will integrate an individual's financial transaction activities. This system will allow every citizen to have a unique financial identity connected to all transaction channels, from bank accounts and credit cards to digital wallets and other fintech platforms.
In recent years, the rapid evolution of digital payment systems has resulted in fragmented financial transaction data scattered across various platforms. Many individuals have multiple unconnected accounts, e-wallets, and even online loans.
Benefits of Payment ID
Payment ID aims to address these challenges. By using a NIK-based identity, Bank Indonesia can consolidate an individual's financial data into a complete profile.
As outlined on the Interactive QRIS page, here are some key benefits of Payment ID:
Strengthens financial transparency among financial institutions.
Facilitates the detection of illegal transactions, such as online gambling and illicit loans.
Supports anti-money laundering (AML) and counter-terrorism financing (CTF) policies.
Accelerates creditworthiness analysis by allowing banks to access a complete financial profile of potential borrowers (with their permission).
Main Features of Payment ID
The launch of Payment ID signifies the introduction of a comprehensive financial identity system. Some of its main features include:
- Unique Code Integrated with NIK (ID number)
Every citizen will have a Payment ID consisting of a combination of letters and numbers directly linked to their NIK. This system prevents the duplication of financial identities.
- Multi-Platform and Multi-Functionality
Payment ID can be used for bank transactions, e-wallets, e-commerce, QRIS, and online loan platforms. This identity will become the single source of truth for all financial activities.
- Accurate Financial Analysis
With customer consent, financial institutions can access an individual's comprehensive income, expenses, loan repayments, and investments. This will simplify risk analysis and expedite loan applications.
- Stringent Data Protection
Bank Indonesia emphasizes that this system can only be accessed if the data owner gives direct consent through notifications on their mobile phones. "We avoid misuse by unwanted parties," Dudi said.
- Synchronization with Population Administration
If a Payment ID owner passes away, the identity will be automatically deactivated to prevent misuse.
Aisha Shaidra contributed to the report.
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