Indonesia · Account Transfer · Est. 2021
Indonesia's real-time interbank transfer system launched by Bank Indonesia to replace the aging BI-RTGS for retail payments. BI-FAST supports 24/7 instant account-to-account transfers via bank account number or proxy ID across banks, fintech firms, and e-money providers. Built on ISO 20022 messaging with a modern API-based architecture, it is one of two key payment rails in Indonesia alongside QRIS (the QR standard). BI-FAST aims to be the backbone of Indonesia's digital financial infrastructure for its 280M population.
BI-FAST is Indonesia’s real-time payment system (Account Transfer), launched in 2021. Indonesias real-time interbank transfer system launched by Bank Indonesia to replace the aging BI-RTGS for retail payments.
BI-FAST processed 5.0 billion transactions worth $333.9bn in 2025, a year-on-year change of +47.1%.
BI-FAST is operated by Bank Indonesia, with instant settlement.
BI-FAST launched in 2021, and today has 100 participating institutions.
BI-FAST supports proxy/alias lookup, ISO 20022 messaging.
Data source: Bank Indonesia.
| Capability | Status |
|---|---|
| QR Code Payments | — |
| Wallet Support | — |
| 24/7 Availability | ✓ |
| Cross-Border | — |
| ISO 20022 | ✓ |
| Request to Pay | — |
| Open API | ◐ |
| Alias/Proxy | ✓ |