Jakarta - Bank Indonesia (BI) has five initiatives to accelerate digital transformation in the country.

Executive Director of the Head of the Communications Department of Bank Indonesia Erwin Haryono said the first initiative had been carried out through the payment system by standardizing the Application Programming Interface (API).

"This process will accelerate collaboration between banks and banks and banks and non-banks," he said in Jakarta on Thursday (26/8).

The second initiative, according to Erwin, is accelerating the digitalization of retail payments. This one initiative is carried out by applying the Indonesian Standard Quick Response Code (QRIS) to every transaction of traders and buyers.

"Transactions through QRIS will produce other benefits besides fast transactions, namely data. QRIS not only facilitates transactions but also obtains data and the data can be input for financial analysis," he explained.