Issuing new regulation on payment systems

On 29 December 2020, Indonesia's central bank, Bank Indonesia, issued regulation No.22/23/PBI/2020. This regulation introduced new requirements with regard to share ownership and capital, which could impact foreign investors in the payment services industry. The Regulation requires a minimum 15% Indonesian shareholding, with 51% of the voting rights to be held by Indonesian investors in a non-bank Payment Services Provider. Furthermore, a new business that is categorized as a non-bank Payment Services Infrastructure Provider, including a provider of clearing and settlement services, must now have a minimum of 80% Indonesian shareholding, with 80% of the voting rights to be held by Indonesian investors. The regulation will be applicable from 1 July 2021.

• Type:

  • Entry and establishment (Ownership and control)

• Industry:

  • Services (Financial and insurance activities)

• Sources:

  • Bank Indonesia, PERATURAN BANK INDONESIA NOMOR 22/23/PBI/2020 TENTANG SISTEM PEMBAYARAN, https://www.bi.go.id/id/publikasi/peraturan/Pages/PBI_222320.aspx, 29 Dec 2020
  • Lexology, Indonesian Central Bank Regulation Introduces New FDI Restrictions in Payments Sector, https://www.lexology.com/library/detail.aspx?g=c29d5b26-cde5-47c6-a6bc-346ce4253130, 05 Feb 2021
  • ASEAN Briefing, Bank Indonesia Issues Regulation on Payment Systems, https://www.aseanbriefing.com/news/bank-indonesia-issues-regulation-on-payment-systems/, 18 Jan 2021