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