Credit card for foreigner

[snpark]

A credit card only accepted in Indonesia? Great.

 

[fastpitch17]

One will have to ask if foreign debit/credit visa/master cards will still be accepted or can still be used in Indonesian ATMs?

 

[Hawk256]

A credit card only accepted in Indonesia? Great.

I don't see it as a bad thing. What's wrong with a little independence? Won't matter to 95% of Indonesians anyway.

 

[Hawk256]

One will have to ask if foreign debit/credit visa/master cards will still be accepted or can still be used in Indonesian ATMs?

One would hope that just want to do away with dependency on a foreign power and not sever existing links unless it came right down to it.

 

[Samoerai]

The records are there if someone want's to look.

I understand that Central Bank Indonesia acts somewhat like a 'clearing house' between the commercial banks. So all the payment records etc. of all the banks goes to the central bank .. every day. But as far as I know those records are not kept by the central bank. But if the central bank keeps those records, how long do they keep those records?

 

[snpark]

I understand that Central Bank Indonesia acts somewhat like a 'clearing house' between the commercial banks. So all the payment records etc. of all the banks goes to the central bank .. every day. But as far as I know those records are not kept by the central bank. But if the central bank keeps those records, how long do they keep those records?

6months usually. Then after that thrown onto the landfill to blow around in the wind

 

[Hawk256]

Not sure about Indoneisa but in the US they are required to keep those records for years. 5 seems to be the minimum in most cases but some go back 10 years. If the govenments asks the bank, they better be there.

 

[jstar]

I’m not so sure if all these systems, the interbank fund transfer mechanisms, keep the transaction records themselves. For instance, if RTGS (Real Time Gross Settlement) is used for amounts higher than 100 juta, or SKNI (Sistem Kliring Nasional Indonesia) for amounts up till 1 billion, would they keep the transaction history? The banks do keep the records of course. My sister in law’s bank keeps everything active for 5 years after which it goes into storage.

I guess this new BI credit card would be pushed for civil servants and employees of BUMNs etc. Must be many millions. And not only that, it will definitely be promoted by the State-Owned Banks. You can imagine if Mandiri, BNI, etc. put their shoulders under this, it could be huge.

 

[Samoerai]

guess this new BI credit card would be pushed for civil servants and employees of BUMNs etc. Must be many millions. And not only that, it will definitely be promoted by the State-Owned Banks. You can imagine if Mandiri, BNI, etc. put their shoulders under this, it could be huge.

Would be interesting to see what kind of creditcard it will be? The kind where one has to first deposit money? Or a real credit card? My money is on the latter, because then Indonesia really is introducing the e-Rupiah at the same time, I guess. The e-Rupiah issued by Central Bank Indonesia.

 

[Dave70]

Indonesia will introduce its own credit card; Bank Indonesia (BI) will launch a physical government credit card through a soft launch this month, while the official launch is in May 2023.

The deputy governor of Bank Indonesia (BI) stated that according to the direction of president Jokowi, the domestic credit card does not use Mastercard or Visa as payment processing system.

So the system used is the Gerbang Pembayaran Nasional (National Payment Gateway - GPN) from Bank Indonesia. This payment transaction system that connects various banks is used for ATM and debit cards.

The remarkable thing is that one of the major drivers for using this system is to avoid a situation (as in Russia) where the payment systems can be disabled by foreign governments and companies.

It seems the card can also be used in Malaysia.


View attachment 2977

Actually, since years ago, BCA already has had a credit card for domestic use called BCA Card which is not a Visa or Mastercard.

 

[centurion]

If set properly, the domestic card should be working on all POS with lower fees and should withdraw money without commission from ATMs.

 

[Samoerai]

Actually, since years ago, BCA already has had a credit card for domestic use called BCA Card which is not a Visa or Mastercard.

A credit card issued by Central Bank Indonesia is really something extraordenary. First, one has to apply for a bank account number at the central bank. Nobody has that yet. Second, the central bank only issues state money: Rupiah notes and coins. So, this would be the first step towards creating e-Rupiah on one's bank account number. Third, your money at one's account number at the central bank is really safe. The central bank cannot go bankrupt.

 

[snpark]

Actually, since years ago, BCA already has had a credit card for domestic use called BCA Card which is not a Visa or Mastercard.

Isn't that the Flazz card?
Actually any credit card can be restricted to just domestic.
You mean it just doesn't use visa or MasterCard system?
Is it that one that's preloaded for use online etc so it has limited limit

 

[snpark]

 

[Samoerai]

Isn't that the Flazz card?
Actually any credit card can be restricted to just domestic.
You mean it just doesn't use visa or MasterCard system?
Is it that one that's preloaded for use online etc so it has limited limit

The point of the central bank with the credit card is not to use the visa and master card systems, because they get too powerful.

 

[jstar]

Isn't that the Flazz card?
Actually any credit card can be restricted to just domestic.
You mean it just doesn't use visa or MasterCard system?
Is it that one that's preloaded for use online etc so it has limited limit

No, BCA has/d in fact three credit cards; Platinum, Everyday and Indonaret. They have different limits and are for customers who earn a minimum of 3 million rupiah per month. Esp. the Indomaret limit is extremely low.

 

[jstar]

The point of the credit card by the central bank indonesia is not to use the visa and master card systems, because they get to powerful.

Look at the Russians in Bali; many had problems paying since their MC/Visa from Russia got blocked. So that’s what they want to avoid, external companies and countries being able to have that influence on the payment systems of their citizens.

 

[fastpitch17]

Look at the Russians in Bali; many had problems paying since their MC/Visa from Russia got blocked. So that’s what they want to avoid, external companies and countries being able to have that influence on the payment systems of their citizens.

Did they block Visa/MC directly or block the issuing bank. My US MC was issued through my bank. Even though it is MC, recognized the world over, it still is associated with a bank.

I think if BI issues a credit card it will be like the major cards do. It will be a BI card issued by the various banks.

 

[Samoerai]

Did they block Visa/MC directly or block the issuing bank.

I am not sure, but if credit card companies Mastercard and Visa blocked all Russian citizen's payments, that would be much more effective.

 

[jstar]

Of course the current BI / Indonesian government plans are (practically) based on the MIR system.

Mir (payment system) - Wikipedia

en.wikipedia.org

All to circumvent the dependency on foreign payment processing companies which are pushed by foreign governments to stop their activities in the country. The same for Apple Pay and Google Pay of course.