Payments News

On The Web

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Global

PayPal Registers to Indonesia’s Licensing Rules, Access Unblocked

“U.S. payments firm PayPal has registered as an electronic systems operator in Indonesia and its customers can now access its services, the company said on Wednesday. PayPal was one of several websites that Indonesia blocked at the weekend because of their failure to comply with new licensing rules. Companies were given a July deadline to […]
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Global

Central Banks in Five SE Asian Countries to Create Common Contactless QR Payments Zone

“The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand are to develop an interoperable cross-border payments system that will enable residents of each country to use their mobile banking app to make QR code-based payments for goods and services when visiting any of the other territories. The integrated system will enable visitors to […]
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Companies

Indonesia’s KoinWorks Rolls Out Card for Influencers and Entrepreneurs

“New economies need new economic models that support them. That’s why KoinWorks, the leading fintech platform in Indonesia, today announced the launch of NEOCard, the first offering of its kind that gives more than 64M influencers and entrepreneurs in the region access to financial tools and banking services to help fuel the next generation of […]
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Global

Indonesia to Launch Retail Payment System

“Indonesia’s central bank, Bank Indonesia (BI), has continued its innovative initiatives by launching the long-awaited BI-Fast, a real-time retail payment system infrastructure, to meet public demand for fast, mobile, secure and low-cost transactions. BI-Fast was established to serve industrial consolidation and end-to-end integrated digital economy and finance (EKD), a national step toward realising the Indonesia […]
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Deals

Indonesian E-commerce Firm Bukalapak Raises $234 Million

“Indonesian e-commerce company Bukalapak raised $234 million in capital in a funding round led by Microsoft, Singapore sovereign wealth fund GIC, and local media conglomerate Emtek, according to a sale document reviewed by Reuters. The latest funding round comes amid a frenzy of interest from global investors in gaining exposure to the fast growing Southeast […]
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Global

How Can Open Finance Help Indonesia’s Unbanked?

“One hundred and thirty million: that is the number of adults within Indonesia who do not use traditional bank accounts to access financial services such as loans and credit cards. Instead, they utilize fintech services ranging from digital wallets to peer-to-peer (P2P) lending to fulfill their financial needs. Now, Bank Indonesia (BI) and the financial […]
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On The Wires

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Global

Bank Indonesia Drives Country’s Real-Time Payment Ambitions With ACI Worldwide

“Bank Indonesia (BI), Indonesia’s central bank, has launched the country’s first real-time payments infrastructure, BI-FAST, driven by ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time digital payment software . BI-FAST is an integral part of Indonesia’s ongoing digital modernization initiative and central to its Payment System Blueprint, IPS 2025 . IPS 2025 aims […]