Deputy Governor of Bank Indonesia (BI) Filianingsih Hendarta revealed\nthat a number of Payment Service Providers (PJP) in the second mover\ncategory have begun registering as issuers of the retail segment of the\nIndonesian Credit Card (KKI). This move is expected to increase the\nsupply of KKI services to the public, both from the banking and\nnon-banking sectors.<\/p>\n
\u201cCurrently, second movers have started to register and hopefully this\nwill soon add many PJPs that become issuers. This is from the supply\nside,\u201d said Filianingsih at a press conference following the BI Board of\nGovernors Meeting (RDG) in Jakarta on Wednesday (19\/8).<\/p>\n
To date, eight first-mover banks have officially become KKI issuers.\nThese eight banks are BCA, Bank Mandiri, BNI, BRI, CIMB Niaga, Bank\nPermata, Bank Mega, and BSI, which is currently developing a\nSharia-based KKI.<\/p>\n
Filianingsih explained that the implementation of the retail segment\nKKI is being carried out in stages to ensure system readiness and\ntransaction security. BI emphasised that this scheme is inclusive in\nnature. All banks and non-bank institutions that meet the requirements\nmay apply to become KKI issuers, depending on the readiness of each\ninstitution\u2019s infrastructure.<\/p>\n
The retail segment KKI is an extension of the government segment KKI,\nwhich has previously been successfully used for central and regional\ngovernment transactions. The presence of the retail KKI aims to provide\nan alternative deferred payment instrument for the wider public.<\/p>\n
\u201cSo the public has increasingly diverse payment instrument\nalternatives, whether deferred or immediate, cash or directly deducted\nfrom their balance,\u201d added Filianingsih.<\/p>\n
In addition to inclusivity, the KKI is designed with the principle of\ninteroperability. This allows a single Electronic Data Capture (EDC)\nmachine to accept various types of KKI credit cards from different\nissuers. This concept is similar to QRIS, where a single QR code can be\nscanned by various payment applications.<\/p>\n
For information, the retail segment KKI was officially launched by BI\ntogether with the Indonesian Payment System Association (ASPI) on Monday\n(17\/8), coinciding with the 81st Anniversary of the Independence of the\nRepublic of Indonesia. This development also received full support from\nthe Indonesian Credit Card Association (AKKI) and Payment System\nInfrastructure Providers (PIP).<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/indonesian-credit-card-issuers-in-retail-segment-continue-to-grow-1787154650", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }