Bank Bali taps online payment

JAKARTA (JP): Publicly listed Bank Bali launched on Wednesday a new online payment system amid uncertainty over the prospect of its recapitalization program.

Bank Bali will provide secured Internet real time payment processing for customers who purchase goods through the Internet by credit card.

The bank is collaborating with Telkom's e-commerce division, portal operator Agrakom, web developer Kemangnet, Internet service provider DNet as well as Visa and MasterCard in providing the service.

Bank Bali was taken over by the government last year after the bank's former owner, the Ramli family, failed to secure approved investors to help finance its recapitalization.

The bank's recapitalization, scheduled to be completed late last year, was delayed after Rudy Ramli sued the central bank and the Indonesian Bank Restructuring Agency (IBRA) for forcibly taking over the bank.

Rudy won the legal battle, but the central bank and IBRA appealed to the Supreme Court.

The government said the recapitalization program was expected to be implemented before the end of June, or when the bank resolved its legal problems. (cst)