Monday, 5 June, 2023

Indonesia about to ditch Visa, Mastercard

The Bank of Indonesia will launch its domestic card payment system in May as part of a strategy to reduce dependency on foreign systems and protect transactions from geopolitical fallout, RIA Novosti news agency reported on Monday.

Central bank Governor Perry Warjiyo reportedly said the country is officially launching physical domestic cards “in close cooperation with the government and the Indonesian Credit Card Association (AKKI),” reports RT.