Indonesia Legal Update: BI Regulations on Payment Systems
Indonesia’s central bank, Bank Indonesia (“BI”), has issued several regulations that reform the legal framework for payment systems in Indonesia. BI…
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Indonesia’s central bank, Bank Indonesia (“BI”), has issued several regulations that reform the legal framework for payment systems in Indonesia. BI…
Payment Service Providers (Penyedia Jasa Pembayaran ─ "PJP") This group includes activities related to the provision of payment services to end-users of Payment System services on the front end, covering activities including, among others: displaying information about sources of funds; initiating transactions/acquiring (electronic wallets, acquirers and payment gateways); issuing payment instruments/accounts; remittance/fund transfer services. 66412 Payment System Infrastructure Providers (Penyelenggara Infrastruktur Sistem Pembayaran ─ "PIP") This group includes activities related to the...