Maximum Interest Rate Cap for Indonesia Retail Credit Card

The newly launched Kartu Kredit Indonesia (KKI) retail segment, introduced by Bank Indonesia (BI) and the Indonesian Payment System Association (ASPI), will have a maximum interest rate cap that follows the provisions applicable to credit cards in general.

Kartu Kredit Indonesia (KKI) Retail Segment, or KKI, is a payment instrument with a credit facility as a source of funds (deferred payment) whose transaction processing is carried out domestically through the National Payment System Infrastructure.

It should be noted that this card differs from conventional credit cards, where part of the transaction process involves international networks. Kartu Kredit Indonesia is processed entirely through domestic infrastructure.

This instrument uses a deferred payment facility with credit card funding sources that can be used via QRIS Scan or QRIS Tap.

“The maximum interest rate cap for KKI follows the applicable provisions related to credit cards,” according to a statement from Bank Indonesia on Tuesday (18/8/2026).

Currently, the maximum interest rate cap for credit cards in force is 1.75% per month or 21% per year.

Meanwhile, the credit limit and ownership limit for the KKI Retail Segment follow the applicable provisions related to credit cards as well as the credit assessment applied by each payment service provider, whether banks or non-bank institutions.

Bank Indonesia has currently appointed seven banks as the first movers for KKI in the initial implementation phase, namely BCA, Bank Mandiri, BNI, BRI, CIMB Niaga, Permata Bank, and Bank Mega, as well as one next mover payment service provider, BSI, which can issue KKI.

Nevertheless, in its development, KKI may be issued by all payment service providers, both banks and non-bank institutions, that meet the requirements in accordance with Bank Indonesia regulations.

The transaction mechanism using KKI involves the credit card user selecting the QRIS feature, whether QRIS MPM, QRIS CPM, or QRIS TAP, on the payment application, then choosing KKI as the source of funds and subsequently carrying out the QRIS transaction as usual.

QRIS transactions can be carried out by scanning the QR code at offline merchants, displaying QRIS CPM, or bringing the mobile phone close to the QRIS TAP payment terminal.