“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 […]
“The aspect of control in Remittance Service Company activities it must be held by domestic shareholder.” Under Article 2 letter Bank Indonesia (“BI”) Regulation No. 23/6/PBI/2021 of 2021 on PJP (“BI Reg 23/2021”), Remittance Service is included within the scope of PJP. PJP itself is defined as Banks or Non-Bank Institutions that provide services to […]
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 […]
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