Implementation of Non-Cash Payment Regulations in Indonesian

Aloysius Wisnubroto
Dinda Aprilia

Pena Justisia: Media Komunikasi dan Kajian Hukum
Vol. 23 No. 2 (2024): Pena Justisia

The advancement of electronic payment systems hasgiven rise to various innovations in financialtransactions, which are expected to enhanceconvenience, flexibility, efficiency, and simplicity forusers. Among these innovations, electronic money (emoney) demonstrates distinct characteristics comparedto pre-existing electronic payment instruments such asphone banking, internet banking, credit cards, anddebit/ATM cards. Unlike those systems, transactionsconducted through e-money do not always requireauthorization procedures or processes directly relatedto customer bank accounts. Based on this development,the researchers formulated the central problem ofinquiry as follows: How is the implementation of noncash payment systems within the Indonesian economicframework evaluated from the perspective of justicevalues? The study employed a constructivist paradigm,with a descriptive and prescriptive research design, andapplied a socio-legal methodology. Data analysis wasconducted through a qualitative descriptive approach.The sources of data included both primary andsecondary materials, obtained through library researchand field research, the latter involving interviews withrelevant stakeholders. The findings of this studyindicate that the Indonesian government andregulatory authorities have introduced a range of legalinstruments to strengthen the non-cash transactionecosystem. One significant example is Bank IndonesiaRegulation (PBI) No. 19/8/PBI/2017 concerning theNational Payment Gateway (NPG), which enablesinteroperability so that one payment card may be usedacross multiple platforms at minimal or no additionalcost. Furthermore, the government’s commitment topromoting cashless transactions is reflected in theregulation requiring all toll road users to adoptelectronic money as the sole payment method effectivefrom October 1, 2017. The study concludes that theIndonesian government is expected to continuouslyencourage the implementation of policies that enhanceeconomic efficiency through non-cash transactionswhile ensuring that the public is not burdened by excessive costs that could discourage adoption.Moreover, these policies are anticipated to foster thedevelopment of sustainable business models forelectronic payment services in Indonesia.