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View all search resultsBI launches domestic credit card for public retail use
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Credit cards are pictured in a wallet on Feb. 21, 2010, in Washington, DC. (Reuters/Stelios Varias)
Bank Indonesia (BI) officially launched a domestic credit card for wider retail use on Independence Day, after years of preparation.
Following the central bank’s monthly two-day Board of Governors meeting, BI deputy governor Filianingsih Hendarta said in a press conference on Wednesday that the credit card was created to “provide an alternative for deferred payment”.
The system itself has been up and running since April 2023 but so far has only accommodated government transactions. Monday marked the launch for retail customers.
Filianingsih revealed that there were seven “first mover” banks involved, including BCA, Bank Mandiri, BNI, BRI, CIMB Niaga, Permata Bank and Bank Mega. BSI, meanwhile, would focus on the development of a sharia version.
She said some “second movers” had applied to get involved, and all banks and payment service providers would eventually be able to issue the cards “so long as they meet the requirements”.
The deputy governor said the credit card would connect with the Quick Response Indonesia Standard (QRIS), a unified QR payment network widely used in the country that is connected with all payment systems.
When implemented fully, customers could scan the merchant’s QR for payment and choose whether to transact using the balance of their bank accounts, electronic money or the credit card.
