Visa, BankPos sign deal

JAKARTA (JP): BankPos Nusantara signed yesterday a memorandum of understanding with Visa International to produce card payment products in Indonesia.

The memorandum was signed by Visa's president for Asia Pacific region Dennis Goggin and BankPos' president Robert Leman at the Asia-Pacific Annual Member Conference in Nusa Dua, Bali.

Minister of Tourism, Post and Telecommunication Joop Ave was present to witness the signing, a statement from Visa said.

The statement said BankPos and Visa agreed to undertake several initiatives, including co-brand schemes, debit and credit card products and stored value card products.

BankPos was formerly known as Bank Rajawali. The new name was introduced after the bank formed a strategic alliance with the state-owned postal company PT Pos Indonesia on Oct. 3.

The bank has targeted a growth of one million new costumers in the next several years and has planned to open 12,000 kiosks functioning as mini-banks at post offices, Metro department stores and Excelcomindo cellular phone shops cross the country. (jsk)