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Ada Pertanyaan? Hubungi Kami Nadia Maharani, Fitri Novia Heriani
As a means to protect bank customers, Bank Indonesia (BI) is urging banks operating in Indonesia to halt the use of cash withdrawals through merchants using credit cards.According to Eni V Panggabean, Executive Director of Payment System Policy at BI, through the use of credit card cash withdrawals, card owners act as if they are shopping with the merchant, but in reality, they are obtaining cash instead of purchasing goods.
The legal ground to stop this practice is provided for under BI Regulation No. 14/1/2012, with the aim of improving the growth of credit card use in Indonesia. An acquirer is obligated to discontinue its joint cooperation with a merchant who may cause a loss to a credit card issuing banks.
Mrs. Panggabean further emphasizes that using a credit card to obtain cash, or known as gesek tunai, may lead to bad credits, non-performing loans, and an increase of money laundering. To prevent this practice from going further, BI in cooperation with the Indonesian Payment System Association (ASPI) and Indonesian Credit Card Association (AKKI), signed a memorandum of understanding to eradicate the practice of cash withdrawals using credit cards.
Darmadi Sutanto, Chairman of ASPI, supports BI’s measure, as he explained that cash withdrawals using credit cards have created losses for banks. Many banks, according to Mr. Sutanto, tried to cover up this practice, even though it has more downsides for them.
(hot/kc)
Nadia Maharani, Fitri Novia Heriani
As a means to protect bank customers, Bank Indonesia (BI) is urging banks operating in Indonesia to halt the use of cash withdrawals through merchants using credit cards.According to Eni V Panggabean, Executive Director of Payment System Policy at BI, through the use of credit card cash withdrawals, card owners act as if they are shopping with the merchant, but in reality, they are obtaining cash instead of purchasing goods.
The legal ground to stop this practice is provided for under BI Regulation No. 14/1/2012, with the aim of improving the growth of credit card use in Indonesia. An acquirer is obligated to discontinue its joint cooperation with a merchant who may cause a loss to a credit card issuing banks.
Mrs. Panggabean further emphasizes that using a credit card to obtain cash, or known as gesek tunai, may lead to bad credits, non-performing loans, and an increase of money laundering. To prevent this practice from going further, BI in cooperation with the Indonesian Payment System Association (ASPI) and Indonesian Credit Card Association (AKKI), signed a memorandum of understanding to eradicate the practice of cash withdrawals using credit cards.
Darmadi Sutanto, Chairman of ASPI, supports BI’s measure, as he explained that cash withdrawals using credit cards have created losses for banks. Many banks, according to Mr. Sutanto, tried to cover up this practice, even though it has more downsides for them.
(hot/kc)