, Indonesia

Indonesia gets e-money payment system

Bank Indonesia will introduce e-money in June.

The central bank said the program will begin as experiment in six provinces: North Sumatra, South Sumatra, East Java, Central Java, East Kalimantan and Bali.

The program will make it easier for users to do transactions. It is also expected to minimize financial crime and circulation of counterfeited money.

Crimes in the financial sector are growing. Until March 2013, fake money worth US$3 million were found in North Sumatra alone.

The e-money program will be launched in cooperation with three cellular phone operators: Telkomsel, Indosat and XL.

 

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you design and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

CIMB unveils new wealth management platform in Malaysia
This is reportedly the first CIO domiciled in Malaysia to serve affluent customers.
SMBC Group establishes offshoring hub in Chennai, India
The offshore hub will ensure stable systems development and operations, the bank said.
NAB has given out $2b in new green business loans
Demand has surged from businesses related to energy, EVs, property, and agriculture.
Lending & Credit