The National Standard for Open API Payments (SNAP) Bank Indonesia (BI) is a series of national Open API standard documents used to manage the standardization of digital transaction payments in Indonesia. To support the initiative of the Indonesian Payment System Blueprint (BSPI) 2025, BI has implemented two critical policies for SNAP services following the Board Member of Governors Regulation, No. 23/15/PADG/2021 regarding the National Standard of Payment Open-Application-Programming-Interface. These policies are as follows:

  • Integrating all potential Service Users collaborating with potential Service Providers by no later than June 30, 2024.
  • Integrating all Service Users which consist of micro, small, and medium-sized enterprises, and non-profit organizations, by no later than June 30, 2025.

These two policies underscore the urgency of SNAP standardization for enhancing the digital payment ecosystem within the current era of open finance.

 

The Urgency of SNAP in the Current Development of the Open Finance Ecosystem

The increasing market demand for open finance services through Application Programming Interface (API) mechanisms has led to the rapid growth of digital transactions. API services have replicated many banking functions, such as access to informational services, transactional services, and financial management. In line with this development, financial institutions like banks are becoming more open by offering various open finance-related products and services.

The expansion of open finance services through API mechanisms is quite extensive and distributed. According to Innopay, banks that offer API services tend to increase their service expansion by 17% annually. As a result, API services can gradually enhance a bank's financial transactions, which indicates that open finance services can be used as an enabler to boost profitability.

In line with the significant growth of API services, Bank Indonesia (BI) has introduced a standardization called SNAP for digital financial transactions in Indonesia. This standardization aims to secure financial transactions and protect customers from irresponsible parties. The hope is that SNAP standardization could support the creation of a healthy, competitive digital payment ecosystem that provides convenience for businesses and customers.

To support the ongoing development of open API standards, BRI has designated BRIAPI as one of the pioneers in implementing SNAP services in Indonesia. Currently, BRI has adjusted SNAP for some of its service features. Additionally, BRIAPI has initiated migration for first-mover and next-mover partners who fall into the PJP category from mid-2022 to the end of this year. This contribution could facilitate the expansion of SNAP service implementation in Indonesia.

 

The contribution of BRIAPI to the implementation of SNAP in Indonesia

To support the implementation of SNAP in Indonesia, currently, BRIAPI has two main types of products: 1) transactional services that could be used by third-party applications to interact directly with the BRI's payment system, e.g. BRI Direct Debit, BRIZZI, BRIVA, transfers between banks or fellow BRI banks, cardless cash withdrawals, and QRIS, etc. 2) informational services, namely services where users could obtain complete information without leaving the application, e.g. account statement and account balance.

On the other hand, BRIAPI also has several advantages in open API that could support the expansion of SNAP in Indonesia:

1. Having various API services

BRIAPI currently has lots of variations of API services, some of which already have services that use the SNAP standardization. With the many variations of API services, business actors could be more flexible in choosing appropriate services for their business needs. As more and more business actors use SNAP services at BRIAPI, BRIAPI could contribute linearly to the increasing use of SNAP services in Indonesia.

2. Speed of Service and Integration

By using BRIAPI, business actors could increase their service flexibility, especially in financial transactions. As a result, business actors could provide their financial transaction services to their customers more easily, quickly, and practically. This condition could contribute to accelerate the development of SNAP service implementation in Indonesia.

3. Supporting the Implementation of SNAP at Various Business Levels

BRIAPI's role in helping business actors go digital can be seen from two perspectives. On the one hand, BRIAPI could bring BRI to become a financial institution that participates in developing the digital ecosystem by contributing to open finance. On the other hand, BRIAPI could also be used by various other business levels as support services, especially those related to transactions. This condition may contribute in supporting the expansion of SNAP services at various business levels in Indonesia.

4. Following OJK licensing regulations

BRIAPI has obtained an open API platform permit from the Financial Services Authority (OJK) as the financial services regulator. BRIAPI was also developed and implemented according to international standards, namely ISO 27001. This condition is also linear with the SNAP standardization, which is also supported by regulations from the OJK.

5. Collaborating with Many Partners to solve Digital Challenges

BRI not only develops APIs but also has a mindset to help partners solve the business challenges of the digital era. So, this condition could make it easier for practitioners to develop their businesses through BRIAPI. Linear with the situation, BRIAPI could become one of the agents that provides an understanding of SNAP standardization to partners who use API services.

 

Conclusion

The use of SNAP has good potential to maintain the payment ecosystem in Indonesia. Implementing SNAP is not only beneficial for business actors but also could be beneficial for customers. On the other hand, the implementation of SNAP also varies, starting from payment service providers (PJP), banking, non-PJP, and merchants, including MSMEs for individual customers. With this standardization, the government could carry out continuous supervision of payment mechanisms in Indonesia to protect consumers and organizers from possible cybercrime and fraud.

Through BRIAPI, BRI has introduced open finance services that follow SNAP standards. To integrate your business with the various digital transaction systems, BRIAPI could be the optimal solution to enhance your business's flexibility in the current era of open finance development