JAKARTA, Aug 18 — Indonesia's central bank has expanded the use of a credit card it developed for government bodies to consumers and businesses, as part of an effort to boost purchasing power and support economic growth in Southeast Asia's largest economy.
Below are details from Bank Indonesia's (BI) statement released today:
The "Indonesia Credit Card", which uses the domestic payment system, can now be used by individuals and corporations. BI launched the card in 2022 for government entities, aiming to speed up government spending.
Eight local banks can issue the card to the public: Bank Central Asia, Bank Mandiri, Bank Negara Indonesia, Bank Rakyat Indonesia, CIMB Niaga, Permata Bank, Bank Mega, and Bank Syariah Indonesia.
The card can be used at merchants that accept QR code payments, including internationally.
BI noted that in the April-June quarter, government transactions on the credit cards totalled 147.8 billion rupiah (RM33.59 million), an increase of around 70 per cent from the same period last year.
The Indonesia Credit Card will coexist with credit cards issued by international card principals and the public can choose which card they use.
Last year, state news agency Antara reported then-BI senior Deputy Governor and currently its acting Governor Destry Damayanti as saying that United States firms Visa and Mastercard are the dominant players in Indonesia's credit card sector.
