Lippo launches debit card

Lippo launches debit card

JAKARTA (JP): Visa International and Lippo Bank announced here
on Thursday the introduction of the Lippobank Visa Electron card,
the first signature-based debit card in Indonesia.

Visa said that the Lippobank Visa Electron card enabled all
levels of Indonesian society to enjoy the convenience, security
and acceptance of a Visa Card without the need to pay credit.

The Electron card functions in the same way as a Visa Card,
except that the purchase price is deducted straight from the
cardholder's bank account.

Visa said that the transactions are processed using the
existing credit-card infrastructure, allowing the new debit card
holders to make purchases using their own funds at over eight
million merchants and 500,000 ATMs throughout the world, and
additionally with 25,000 merchants and 5,000 ATMs in Indonesia.
(hen)