meta_id 2955094

On 3 February 2026, Bank Indonesia issued Regulation of the Board of Governors Number 3 of 2026 (PADG 3/2026), which amends the third time the regulations governing the operation of Bank Indonesia-Fast Payment (BI-FAST) system. The regulation becomes effective on 31 March 2026. The amendment aligns the BI-FAST operational framework with Bank Indonesia's Payment System Industry Regulation (PBI PISP) issued in 2025, which strengthens the payment system industry structure through enhanced industry capacity and risk management infrastructure. The regulation introduces revised definitions and adjusts requirements across multiple areas including participant membership, cooperation with supporting operators, service operations supporting transaction settlement, and security strengthening. Key amendments include: expanded participant eligibility criteria for commercial banks, non-bank financial institutions, payment service providers, payment service providers, payment infrastructure operators, and supporting operators; clarified duties and powers of the BI-FAST operator regarding rule-setting, infrastructure provision, operational management, compliance monitoring, and administrative sanctions; specific requirements for direct participants limited to payment infrastructure operators accessing only Financial Institution Credit Transfer (FICT) services; minimum capital requirements for non-bank payment service providers of IDR100 billion; and enhanced due diligence requirements for participants engaging supporting operators managing BI-FAST infrastructure. The regulation establishes participant obligations including maintaining system security, ensuring data accuracy, complying with fees, providing required information to Bank Indonesia, and fulfilling technology infrastructure requirements. It also sets out procedures for participant status changes and requirements for cooperation agreements with supporting operators, including risk management responsibilities and service continuity provisions. Market participants must review the detailed requirements outlined in the regulation's annexes, which cover minimum technical infrastructure protection standards, membership application procedures, data change processes, incident handling procedures, and operational standards for BI-FAST services. **References:** Bank Indonesia. Peraturan Anggota Dewan Gubernur Nomor 3 Tahun 2026 tentang Perubahan Ketiga atas Peraturan Anggota Dewan Gubernur Nomor 17 Tahun 2023 Tentang Penyelenggaraan Bank Indonesia-Fast Payment. Available at: https://www.bi.go.id