The Bank of Indonesia and GPN domestic card payment system

[serious_fun]

The Indonesian government encourages the use of GPN to replace Visa, Mastercard.

Visa and Mastercard finally on the way out for domestic purchases?

 

[jstar]

Eh…

Credit card for foreigner

How did you get this? di you have to ask specifically for a debit card? . Ah yes, I forgot. It's a debit card with VISA. So the shops etc. swipe in in their CC terminals but it will deduct instantly from the account.

www.expatindo.org

As we discussed there in that thread, the GPN as inter banking network, goes much further than replacing credit cards. Those are using the system. Just like transportation and toll roads systems, e-commerce and QRIS, etc. etc.

The title ‘The Indonesian government encourages the use of GPN to replace Visa, MasterCard’ makes no sense.

 

[snpark]

Visa is a payment system only
Its depending on the bank if the funds come from your own account and get debited
Or taken as credit from credit card which you have to repay
In middle east they have / had GCC net years ago with a falcon logo on local banks issued Atm cards

 

[Samoerai]

I think it is part of a bigger plan of BI. See Garuda project.

Project Garuda: Navigating The Architecture Of Digital Rupiah

www.bi.go.id

 

[snpark]

Rugpull

 

[serious_fun]

Eh…

Credit card for foreigner

How did you get this? di you have to ask specifically for a debit card? . Ah yes, I forgot. It's a debit card with VISA. So the shops etc. swipe in in their CC terminals but it will deduct instantly from the account.

www.expatindo.org

As we discussed there in that thread, the GPN as inter banking network, goes much further than replacing credit cards. Those are using the system. Just like transportation and toll roads systems, e-commerce and QRIS, etc. etc.

The title ‘The Indonesian government encourages the use of GPN to replace Visa, MasterCard’ makes no sense.

aah I see. I never read that thread.

In Hong Kong we have Octopus Cards which seem to be the same type of thing...

 

[serious_fun]

I think it is part of a bigger plan of BI. See Garuda project.

Project Garuda: Navigating The Architecture Of Digital Rupiah

www.bi.go.id

I agree.

Slowly slowly we all move to the CBDC.

 

[snpark]

aah I see. I never read that thread.

In Hong Kong we have Octopus Cards which seem to be the same type of thing...

No. That's the Flazz card here. Preloaded debit card for transport and 7/11 etc

 

[jstar]

I think the Octopus is probably the best accepted rechargeable smart (card) system in the world. Over here the Flazz is promoted for access to toll roads, parkings and mainly as Stephen stated, for the TJ/MRT/LRT. But not so much used in other areas. There the e-wallet systems have taken over, esp. after the QRIS introduction which offers standardized barcodes to avoid a chaos at payment terminals*. Singapore has an EZ-Link for transportation and hawkers but NETS for parkings and shops. Not ideal. In Western Europe, the rechargeable card completely failed. And it’s back to payment by debit card or by phone (both are contactless via NFS now).

*It is kinda cool in an Alfamart for instance, to have the BCA card machine print out a 3-D barcode that you can scan with your phone.

 

[Balifrog]

*It is kinda cool in an Alfamart for instance, to have the BCA card machine print out a 3-D barcode that you can scan with your phone.

Roll yes,... sure it is sooooo much faster than paying cash.
Why make things easy when we can make them complicated.....

 

[jstar]

*

Did you ever see (and smell and ‘feel’) the banknotes here?
That‘s because the rotation of the notes (so the replacement by the national bank) is much lower in a country as Indonesia. I try to avoid cash at all times.

*Dodo

 

[snpark]

Well they were all replaced last year with a new series with more colour etc
As cash is deposited at banks they are replaced with the new versions. In theory

 

[jstar]

Yeah, try to deposit your 20K notes and smaller in the machines…

 

[jstar]

Btw, I remember that Indonesia switched the 100.000 banknote from polymer back to paper at the time. After 5 years or so. Which is kinda weird since the circular life of polymer would be longer (8 years) and its counterfeit is more complicated.

 

[Balifrog]

*

Did you ever see (and smell and ‘feel’) the banknotes here?
That‘s because the rotation of the notes (so the replacement by the national bank) is much lower in a country as Indonesia. I try to avoid cash at all times.

*Dodo

Yeah, yeah... avoid cash because of the smell...
And then eat in the local warung ....

 

[snpark]

20,000rp is about €1.20 or £1

I don't even think I carry them. Too small for me to be worried about. If I even get one in my change I don't pick it up.
Blues and reds only for me. No one got time to have a pocket of coins. (Equivalent)
I mean 1,000 2,000 and 5,000rp notes even for poor people must be the most worthless note or one of in the world

Its like 1/15th of a $
Not even a dime or a quarter

 

[snpark]

Neil deGrasse Tyson used this experiment to put in perspective just how rich Bill Gates really is

Astrophysicist Neil deGrasse Tyson devised an informal experiment around found money in order to better "understand extreme wealth."

www.cnbc.com

 

[fastpitch17]

20,000rp is about €1.20 or £1

I don't even think I carry them. Too small for me to be worried about. If I even get one in my change I don't pick it up.
Blues and reds only for me. No one got time to have a pocket of coins. (Equivalent)
I mean 1,000 2,000 and 5,000rp notes even for poor people must be the most worthless note or one of in the world

Its like 1/15th of a $
Not even a dime or a quarter

For those that have nothing, those 1,000, 2,000, and 5,000 notes don't feel they are worthless. Maybe the self centered, egotistic bule who thinks they are better than the locals that surround them because they want to show off some wealth may but, those small bills can buy a hungry stomach a meal.

 

[Vanuatu]

Nasi JInggo is 5K IDR here in Bali and I know many who would be happy to have a 5K note for lunch. Plus carrying around 5,10 and 20K are perfect for tips

 

[Samoerai]

Neil deGrasse Tyson used this experiment to put in perspective just how rich Bill Gates really is

Astrophysicist Neil deGrasse Tyson devised an informal experiment around found money in order to better "understand extreme wealth."

www.cnbc.com

"That's how much the wealth of Bill Gates ($50 billion) is, because he will not pick up $45,000. It is not even worth bending over to pick up."

Huh, I would pick up a dime, just for good luck