I support the regional payment connectivity initiative that continues to be expanded to the global level because the ease of access to payments will have a big impact on the economy, especially the trade, tourism, and micro, small, and enterprises (MJakarta (ANTARA) - President Joko Widodo (Jokowi) expressed support for cross-border payment connectivity in the ASEAN region to be expanded to the global level in order to have a bigger impact on the economy.
"I support the regional payment connectivity initiative that continues to be expanded to the global level because the ease of access to payments will have a big impact on the economy, especially the trade, tourism, and micro, small, and enterprises (MSMEs) sectors," he said virtually at the signing of the MoU at the event held on the sidelines of the G20 titled "Advancing Regional Digital Payment Connectivity" here, Monday.
He noted that expanding payment connectivity would accelerate stronger and more inclusive economic growth.
Related news: President Jokowi launches Pandemic Fund prior to G20 Summit
The head of state also supports cross-border payment connectivity initiatives in the region, such as those carried out by the five central banks of ASEAN countries this Monday.
The payment connectivity initiative was started by Bank Indonesia (BI) in collaboration with several central banks from the ASEAN: the Philippines, Malaysia, Singapore, and Thailand.
"It is time for this cooperation to be formalized in regional payment connectivity as a concrete form of implementing the G20 roadmap for enhancing cross-border payments," he noted.
Related news: President Jokowi pushes ASEAN-Canada concrete cooperation
He noted that the ASEAN has been one step ahead in implementing cross-border payment connectivity. Indonesia and Thailand had earlier collaborated on a fast response code for cross-border payments. In addition, Singapore and Thailand have also established fast payment interconnection.
"The digital economy transformation agenda in the financial sector is our shared priority. This is one of the keys to achieve a sustainable economy and is very beneficial for a stronger, more inclusive, and collaborative economy recovery," he noted.
Jokowi remarked that Indonesia has accelerated digital financial transformation in the country, with various breakthrough steps, such as developing QRIS, BI-Fast, Smart, and forming a team to accelerate the expansion of regional financial digitization.
Related news: President Jokowi, UAE president officiate Sheikh Zayed Grand Mosque
Related news: President encourages East Asia to improve Indo-Pacific peace basis
Translator: Indra Arief P, Resinta S
Editor: Fardah Assegaf
Copyright © ANTARA 2022
