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A Maturity Model for Assessing the Indonesian Payment Systems Blueprint 2025 Readiness
Nunung Nurul Qomariyah, Anjar Priandoyo

Last modified: 2021-05-31


Indonesian central bank releases a new document of payment systems plans in November 2019 that visioning the future payment ecosystem in Indonesia. The document namely Indonesia Payment System Blueprint (BSPI) 2025 contain five major initiatives which are open banking, national payment gateway, wholesale payment, data hub and regulatory compliances. However, knowing the complexity of Indonesian banking that consist of more than 120 banks and 1500 rural bank, also to mention the geographical distribution across 17,000 islands and 265 million population, these initiatives is very challenging the be able to be implemented successfully. This research proposes a maturity model for assessing payment system readiness. The development of payment system maturity model for Indonesia is very important as a guideline for the banks for the implementation of the Indonesian Payment System Blueprint while at the same time to accelerate the modernization of payment system and banking as a whole. The proposed solution for this challenges is to develop a payment system maturity model that can be used by the bank the perform self-assessment of its current condition and provide a guideline on what the roadmap that should be followed by the bank. The proposed framework focusing on five dimensions on payment system which are product, technology, operation, governance, and customer dimension.


payment system; innovation; maturity model; green finance