Payment authorization provider takes to Net<\/p>\n
JAKARTA (JP): PT Cipas Indonesia, the country's first credit
\ncard authorization service provider on the Internet, formally
\nlaunched its operations on Thursday.<\/p>\n
Company president Hagus Santoso said he was optimistic the
\nfirm would be able to lead the development of credit card
\nauthorization services on the Internet in the country.<\/p>\n
He said prospects for electronic, or e-commerce, were high
\nbecause of the country's sizable population.<\/p>\n
Hagus said the number of Internet users, which at present is
\nonly about 3 percent of the total population, would rapidly grow
\nin line with economic improvements.<\/p>\n
He said the growth rate of the number of Internet users in the
\ncountry reached 20 percent last year.<\/p>\n
Cipas Indonesia is an information technology firm jointly
\nowned by PT Rajawali Tri Manunggal and Cipas.com Sdn Bhd of
\nMalaysia.<\/p>\n
PT Sejahtera MBf Multi Finance, an issuer of credit cards,
\nsigned up on Thursday as Cipas' first client.<\/p>\n
"Credit card holders would be charged between 4 percent and 8
\npercent of the value of their transaction done on the Internet,"
\nHagus said after the signing of the agreement.<\/p>\n
He said the service rate was dependent on which financial
\ninstitutions, or credit card issuers, were used.<\/p>\n
As a payment authorization service provider, Cipas provides a
\nlink between the credit card issuer and the merchants who sell
\ntheir goods or services on the Internet. The credit card issuer
\npays an annual fee for the company's authorization service.<\/p>\n
With the authorization service, any merchant will instantly
\nknow whether a purchaser has a valid credit card for the
\nparticular amount of the transaction. (udi)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/payment-authorization-provider-takes-to-net-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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