Indonesia: Bank Indonesia adopts regulation on National Standard for Open Application Programming Payment Interfaces

Bank Indonesia, the central bank of Indonesia, has adopted Regulation No. 23/15/PADG/2021 on the National Standard for Open Application Programming Payment Interfaces (SNAP). The SNAP regulation applies to payment system providers who use Open Application Programming Interfaces (API) to facilitate payment transactions and covers issues of interoperability, security, governance and risk management. Open API payments must be verified and Open API software interface must be registered and tested for compliance with technical, security and data standards determined by Bank indonesia.