Payment Transactions for Bank and Other Card Issuers

Bank Indonesia (BI) has issued BI Regulation No. 7/52/PBI/2005 on the Organization of Card Payment Activities (the “Regulation”) to ensure that payment transactions of this nature are safe and secure. The Regulation is also recognition by BI that significant technological advances have occurred in this sector as well as an exponential increase in the number of consumers using cards, either credit or debit, to make payments.

The Regulation is comprehensive and covers all matters relating to cardbased payment transactions including agreements between card trademark holders and the banks and institutions that use those marks.