Bank DBS Indonesia’s active role in making the BI-FAST payment program a success | Bahasa

Indonesia.08 Nov 2021.3 min read

Bank DBS Indonesia’s accelerate financial inclusion and digitalization in banking in Indonesia

Indonesia, 08 Nov 2021 - To support Bank Indonesia's plan to implement BI-FAST payment, Bank DBS Indonesia will start charging a BI-FAST payment transfer fee of IDR2,500 in December 2021. As part of its commitment to continuously supporting the Indonesian government’s financial inclusion and digitalization programs, Bank DBS Indonesia plays an active role and is one of the 22 banking institutions selected to implement the BI-FAST payment system in the first batch.

The BI-FAST system aims at providing national retail payment infrastructure that is secure, more efficient and available in real time 24/7. Through the program, corporate banking customers can make transfers of up to IDR250 million in real-time and will only be charged IDR2,500 per transaction. However, there are no changes for other types of transactions such as SKN (National Clearing System), RTOL (Real Time Online Transfer) and RTGS (Real Time Gross Settlement). The BI-FAST payment service will allow customers to make instant transfers by merely using the recipient's mobile number or email address.

Head of Global Transaction Services, PT Bank DBS Indonesia, Iwan Rusli, said, "Through the BI-FAST payment program, we are pleased to be able to play an active role in accelerating the financial inclusion and digitalization programs for our corporate customers, including SMEs. This is in line with Bank DBS Indonesia's vision to advance digital banking through innovative features and make it easier for corporate customers to transact in accordance with our motto Live More Bank Less. We hope that customers will be more comfortable in conducting transactions and we will also contribute to economic growth as well as advancing the digital financial economy ecosystem in Indonesia.”

Making transactions and payments are becoming easier and more convenient for corporate customers because they are supported by DBS RAPID and IDEAL technology. DBS RAPID technology integrates banking services easily into a system or platform via an API (Application Program Interface) to facilitate authentic digital workflows and provide enhanced customer-centric interactions. Meanwhile, DBS IDEAL, Bank DBS Indonesia’s internet banking platform for corporate customers, will also be developed to facilitate transactions that can be carried out using the key-in or file-upload feature with encryption technology for high-volume transactions and large files.

By taking advantage of the continuous digital transformation to make the program a success, Bank DBS Indonesia as a purpose-driven bank sees the BI-FAST program in line with Bank DBS Indonesia's commitment to providing sustainable solutions while creating a joyful banking experience for customers.

By participating in the trial for the BI-FAST payment system in November 2021, Bank DBS Indonesia continues to consistently improve banking services. For the next stage, Bank DBS Indonesia will focus on individual credit transfers and will facilitate debit transfers, mass credits and payment requests starting in 2022 in keeping with the preparations made by Bank Indonesia. The payment system is expected to be the key to successful implementation of inclusion, digitalization, and can reach all people in Indonesia so that the system can provide great benefits, including for the government, banks and financial technology companies (fintech).[1]

The BI-FAST payment system is part of the Indonesia Payment System Blueprint 2025 (BSPI 2025)1 initiative for the Payment Development Program in Indonesia apart from QRIS. To strengthen corporate banking capabilities, Bank DBS Indonesia will implement DBS MAX QRIS - a digital acceptance system using the Quick Response Indonesia Standard (QRIS) for corporate customers. DBS MAX QRIS delivers enhanced technology for billing and reconciliation needs of corporate customers that allows transaction processing from buyers to occur in real time by simply scanning the payment codes (scan and pay). The launch plan of DBS MAX QRIS is in line with the readiness of corporate customers to adopt digital systems.

Bank DBS Indonesia's digital transformation has been recognized and earned the bank various awards, including Indonesia's Most Popular Digital Financial Brands (Millennials' Choice) 2021 from ICONOMICS, Indonesia Outstanding Millennials' Brand Choice Awards 2021 from Warta Ekonomi, Digital Brand Awards 2021 from Infobank, Indonesia Digital Innovation Awards 2021 from Warta Ekonomi and The Best Full-Fledged Banking 2021 from CNBC.

DBS Corporate Banking offers a wide variety of financial services to business clients nationwide. Discover our corporate banking services. Visit our webisite:

Corporate Banking – Industry Expertise and Digital Solutions| DBS ID Corporate Banking 

[1]  Blueprint Sistem Pembayaran Indonesia 2025 (BSPI 2025)

Indonesia Payment System Blueprint 2025 (BSPI 2025)


About DBS
DBS is a leading financial services group in Asia with a presence in 18 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Euromoney, “Global Bank of the Year” by The Banker and “Best Bank in the World” by Global Finance. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 13 consecutive years from 2009 to 2021.

DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit