BI Joins Nexus Project to Strengthen Payment System

RRI.CO.ID, Jakarta - Bank Indonesia (BI) has decided to join the Nexus project, strengthening cross-border payment connectivity. 

Alongside BI, four other ASEAN central banks: Bank Negara Malaysia (BNM), Bangko Sentral ng Pilipinas (BSP), Monetary Authority of Singapore (MAS), Bank of Thailand (BOT), and the Reserve Bank of India (RBI) are also participating.

“Indonesia’s participation in Nexus is a strategic step to provide cross-border payment solutions, making the payment system more efficient and affordable for the people and businesses in Indonesia,” BI Governor Perry Warjiyo said in a written statement on Monday, February 3, 2026.

Governor Perry noted that Indonesia is one of the world's largest remittance corridors, both a significant source country for migrant workers and a recipient of remittances.

“Increasingly integrated and seamless cross-border payments can also enhance Indonesia’s economic and trade relations with countries in the region,” he said.

Governor Perry explained that the Nexus Project is an initiative of the Bank for International Settlements (BIS), launched in 2021 to improve the smoothness of cross-border payments by connecting various domestic Instant Payment Systems (IPS).

The project entered its implementation phase in 2025, marked by the establishment of Nexus Global Payments (NGP) by several central banks. BI, which previously participated as a special observer, has now declared its full commitment as a Nexus member.

To support this, BI will develop its instant payment system, BI-FAST, to connect with Nexus. The interconnection between BI-FAST and Nexus is expected to strengthen the efficiency and affordability of cross-border transactions while enhancing financial inclusion.

“This initiative is taken to support national interests by maintaining sovereignty. BI will ensure that the clearing and settlement of domestic transactions continue to be carried out domestically,” Governor Perry emphasized.

He added that this step is part of the implementation of the 2030 Indonesian Payment System Blueprint (BSPI) and is crucial to realizing the Regional Payment Connectivity framework launched by ASEAN in 2022.

“In the future, BI will continue to expand its cross-border payment network. This strengthening will be carried out in collaboration with central banks and relevant authorities across jurisdictions,” Governor Perry concluded. (Gusti Panji/Lasti Martina)​