“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 […]
“Offshore Loans must be reported to Bank Indonesia.” In regard to supporting and/or expanding a business, some entrepreneurs borrow funds from abroad to cover the costs they need. The borrowing of funds from abroad is included in the activities of Foreign Exchange Traffic, so it needs to be reported to the competent authority, which is […]
Author: Vania Aqilla Cahyaningrum with Felicia Cindy Hanubrata “The Institutional aspect of a legal entity is a crucial prerequisite in obtaining PJP licensing from Bank Indonesia; thus, it necessitates a thorough examination for the correctness and completeness through Legal Due Diligence (LDD).” Payment Service Providers (“PJP”) is stipulated in Bank Indonesia Regulation Number 23/6/PBI/2021 (“PBI […]
“Regulatory Sandbox by BI has purposed on a limited trial place to test Fintech Providers’ technologies, services, products, and/or business models which related into payment system industry.” Following the integration of technological innovation with financial features, Bank Indonesia (“BI”) has stipulated the framework of regulation, supervision, and observation upon Financial Technology (“Fintech”) as regulated in […]
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