Credit cards are pictured in a wallet on Feb. 21, 2010, in Washington, DC. (Reuters/Stelios Varias)
Bank Indonesia (BI) officially launched a domestic credit card for wider retail use on Independence Day, after years of preparation.
Following the central bank’s monthly two-day Board of Governors meeting, BI deputy governor Filianingsih Hendarta said in a press conference on Wednesday that the credit card was created to “provide an alternative for deferred payment”.
The system itself has been up and running since April 2023 but so far has only accommodated government transactions. Monday marked the launch for retail customers.
Filianingsih revealed that there were seven “first mover” banks involved, including BCA, Bank Mandiri, BNI, BRI, CIMB Niaga, Permata Bank and Bank Mega. BSI, meanwhile, would focus on the development of a sharia version.
