“To accommodate business model development and innovations in providing the payment services, the Indonesian government has reform of its payment system regulation to support economic and financial digitization.” In Indonesia, the main authorities who hold jurisdiction over financial technology are the Bank of Indonesia and the Financial Services Authority (Otoritas Jasa Keuangan). Particularly for Payment Systems, […]
As per May 2020, Bank of Indonesia shifts more of its services to the online system to avoid the need to meet physically.
“Several aspects must be fulfilled to obtain a Payment Gateway License, including institutional, capital and finance, risk management, and information system capability.” Payment gateway is included in Payment Service Provider (“PJP”) as payment initiation and/or acquiring services. Payment gateway must get licensing from Bank Indonesia (“BI”). The provision of payment gateway, including the procedure on […]
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