MasterCard issues 2m debit cards<\/p>\n
JAKARTA (JP): MasterCard International said yesterday it had
\nissued its Maestro debit cards to about two million people in
\nIndonesia since the company introduced the service four years
\nago.<\/p>\n
The vice president of MasterCard's Debit Services in the Asia
\nPacific region, Jeff Portelli, said yesterday he was optimistic
\nthat the number would increase, as Indonesia, like other
\ncountries in the region, was one of the most rapidly developing
\nmarkets for debit cards.<\/p>\n
\"The region as a whole has embraced debit products faster than
\nany other country in the world, with 32 million Maestro
\ncardholders in the Asia Pacific since it was launched in 1993,\"
\nPortelli said.<\/p>\n
He said the company expected the figure to rise to 100 million
\nby 2000, with the level of awareness, and readiness to accept new
\ntechnology in the region.<\/p>\n
Portelli said most cardholders in Indonesia considered getting
\nthe cards for security purposes.<\/p>\n
The debit card allows a transaction to take place at point-of-
\nsale such as a store, with the funds taken straight from the card
\nuser's bank account.<\/p>\n
Portelli said the debit cards are preferred by Indonesian
\nusers over credit cards for shopping and everyday purchases.<\/p>\n
About 90 percent of the people surveyed by the company in the
\ncountry said they wanted the card for traveling overseas, he
\nsaid.<\/p>\n
Portelli said there were about 5,000 merchants or points-of-
\nsale in the country accepting the Maestro card.<\/p>\n
He said 16 local banks including Bank Bali, Lippo Bank, Bank
\nInternational Indonesia, and state-owned Bank Negara Indonesia
\nhad cooperated with his company to issue the Maestro cards and
\nCirrus, Mastercard's Automated Teller Machine network.<\/p>\n
Although banks generated less revenue from debit cards than
\nfrom credit cards they could gain great benefits including no
\nrisks and a higher average of balances of daily accounts, he
\nsaid.<\/p>\n
\"Since people not only use the money when they are paying for
\nsomething, more money would be left in the banks,\" he said.<\/p>\n
He said the cost replacement of the banking service, or the
\ncost to perform certain tasks during a transaction using a debit
\ncard would also be much lower for the bank, than during a
\ntransaction using the bank's teller service.<\/p>\n
\"In the near future, we will see that the local banking
\nindustry is heading more in the direction of remote banking,\" he
\nsaid.<\/p>\n
\"There will be less new branches and more points of
\ninteraction where banking transactions can be made through
\npersonal computers, telephones, ATMs and merchants accepting the
\ndebit cards,\" he added. (das)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/mastercard-issues-2m-debit-cards-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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