Research Article
Analysis of the Development of the National Payment Gateway (GPN) as a Symbol of Domestic Retail Transaction Sovereignty in Indonesia
@INPROCEEDINGS{10.4108/eai.27-7-2021.2316817, author={Ardian Pangestu and Rahmat Aryo Baskoro}, title={Analysis of the Development of the National Payment Gateway (GPN) as a Symbol of Domestic Retail Transaction Sovereignty in Indonesia}, proceedings={Proceedings of the 4th International Conference on Economics, Business and Economic Education Science, ICE-BEES 2021, 27-28 July 2021, Semarang, Indonesia}, publisher={EAI}, proceedings_a={ICE-BEES}, year={2022}, month={3}, keywords={national payment gateway transaction payment system debit card}, doi={10.4108/eai.27-7-2021.2316817} }- Ardian Pangestu
Rahmat Aryo Baskoro
Year: 2022
Analysis of the Development of the National Payment Gateway (GPN) as a Symbol of Domestic Retail Transaction Sovereignty in Indonesia
ICE-BEES
EAI
DOI: 10.4108/eai.27-7-2021.2316817
Abstract
This paper examines Indonesia's payment system development, particularly following the launch of the National Payment Gateway Programme (GPN) in 2017. The payment system is one of the supporters of a country's economic growth, particularly for facilitating inter-party transactions. The current payment system is grouped into 2 (two), namely high-value transactions organized by Bank Indonesia and retail value transactions organized by Bank Indonesia and banks and industry. Transactions conducted by Bank Indonesia are Bank Indonesia-Real Time Gross Settlement (BI-RTGS), Bank Indonesia-Scripless Securities Settlement System (BI-SSSS), and Bank Indonesia National Clearing System (SKNBI), while transactions are carried out by banking/industry can be in the form of fund transfer providers, card-based payment instruments (APMK) and electronic money. According to statistical data released by Bank Indonesia, from 2010 to 2020, transactions using the RTGS payment system dominated nominal transactions in Indonesia, reaching 92.94 percent of all existing transactions. Meanwhile, considering the frequency of transactions, most of them used ATM or debit cards, with an average of 78.20 percent of all transactions. The high frequency of ATM and debit card usage has resulted in a relatively extensive sector of payment system service providers, particularly those involved in the provision of payment gateway networks.