Indonesia's Payment System Reform: Key Changes Under BI Regulation No. 10/2025 And MBG Regulation No. 32/2025

Bank Indonesia ("BI"), the country's central bank, recently issued BI Regulation No. 10 of 2025 regarding the Payment System Industry ("BI Reg. 10/2025"). This regulation revokes BI Regulation No. 22/23/PBI/2020 on Payment Systems and amends provisions of BI Reg. 23/6/PBI/2021 regarding Payment Service Providers ("BI Reg. 23/6") and BI Reg. 23/7/PBI/2021 on Payment Service Infrastructure Providers ("BI Reg. 23/7").

These amendments are further complemented by Members of the Board of Governors Regulation No. 32 of 2025 regarding the Payment System Industry ("MBG Reg. 32/2025"), which revises Members of the Board of Governors Regulation No. 24/7/PADG/2022 regarding the Organization of Payment Systems by Payment Service Providers and Payment System Infrastructure Organizers ("MBG Reg. 24/7").