Debit card transactions up 400%

Debit card transactions up 400%

JAKARTA: Debit card company Kartuku announced on Friday that
transactions using its cards grew by 400 percent in six months
until October this year.

The company, however, did not reveal the number of
transactions involved.

It said in a statement that based on its performance through
October, it was optimistic it could reach its target of two
million Kartuku cardholders and 6,500 electronic data capture
(EDC) machines by the end of June 2003.

The company, which was launched in June, said it had signed
cooperation agreements with the NISP bank and the Toserba Yogya
supermarket chain allowing the bank's customers to use the
Kartuku cards and the store chain to accept the Kartuku cards for
transactions. -- JP