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)