Non-Bank Electronic Money Organizer Must Has BI License

By : Abraham Sihombing And Aldo Bella Putra | Tuesday, October 03 2017 - 19:00 IWST

Bank Indonesia
Bank Indonesia

INDUSTRY.co.id - Jakarta - Non-bank institutions that conduct electronic money with total transactions of Rp1 billion and above must have a license from Bank Indonesia (BI). It applies to e-commerce companies or market place.

It was revealed by Siti Hidayati, Head of Licensing Division of BI Payment System Policy Department, in Jakarta, Tuesday (03/10/17).

Siti argued the provision refers to Article 5 of Bank Indonesia Regulation (PBI) no. 11/12 / PBI / 2009 on Electronic Money (EU). PBI has been changed to PBI no. 18/17 / PBI / 2016.

"In addition, the provision also refers to point II.A.4 SE No 16/11 / DKSP concerning Electronic Money Implementation," said Siti.

Therefore, according to Siti, BI steps temporarily suspends electronic money refill service owned by some e-commerce companies because they do not have BI permit as payment system authority is correct.

Meanwhile, Pungky Purnomo Wibowo, Director of Program Electronication Department of Policy and Supervision of BI Payment System, said the BI action is done to protect the interests of consumers.

"BI should prioritize consumer protection because if something happens cheating, usually consumers are directly affected first," said Pungky.

During this time, according to Pungky, electronic money publishers consider if the service is only applicable to in their environment alone, so feel no need to apply for permission. In fact, the transaction they do reached more than Rp 1 billion.

Pungky explained that the temporary closure of top-up electronic money services is an effort to mitigate the risks until the issuer of electronic money has obtained a license from BI.

Therefore, Pungky notes, although there are applicants when applying for permission to BI has provided electronic money services amounting to more than Rp 1 billion, they are required to perform the service with a total magnitude of less than Rp 1 billion.

"It is intended that the e-commerce services run by the applicant do not need to be stopped until the permission is given by BI as a provider of valid electronic money service," Pungky said. (Abraham Sihombing)

News Comment

Today's Industry

Sergey Sedov, Founder and CEO of Robocash Group

Jumat, 13 Mei 2022 - 16:15 WIB

Robocash Group reached 2 BN USD of disbursement and issued audited financial report of 2021

Robocash Group publishes the audited combined financial statements for the year ended 31 December 2021. The Group reached an all-time high 2 BN USD of issued financing and is expected to increase…

PT Sariguna Primatirta Tbk (Tanobel Group)

Jumat, 13 Mei 2022 - 15:45 WIB

Demand Increases, CLEO Recorded IDR307.7 Billion Sales in Q1-2022

PT Sariguna Primatirta Tbk (Tanobel Group), a public company and manufacturer of Bottled Drinking Water (AMDK) with the IDX ticker code: CLEO: IJ, recorded a 30% increase in sales reaching IDR307.7…

TopWorx DX PST with HART 7 monitors and tests valve assemblies, providing detailed data and diagnostics and enabling the digital transformation of process applications.

Jumat, 13 Mei 2022 - 15:15 WIB

Emerson’s New Emergency Shutdown Discrete Valve Controller Improves Safety, Uptime in Hazardous Applications

Emerson introduced the TopWorxTM DX PST with HART® 7. Units provide valuable valve data and diagnostic information, enabling the digital transformation of process applications.

PT Buyung Poetra Sembada Tbk (“HOKI”)

Kamis, 12 Mei 2022 - 15:26 WIB

HOKI Launches Another New Product

PT Buyung Poetra Sembada Tbk (“HOKI”), a Public Company which produces quality rice under the “Topi Koki” and “HOKI” brands, continues to innovate by re- launching new products.…

Rockwell Automation Inc. /obe.wisc.edu

Kamis, 12 Mei 2022 - 14:19 WIB

Rockwell Automation Releases New, Highly Customizable Industrial Monitors

Rockwell Automation, Inc. (NYSE: ROK), the world’s largest company dedicated to industrial automation and digital transformation, today announced the release of a new line of industrial monitors…