Payment System Preferred Consumer Protection Aspects
By : Wiyanto And Aldo Bella Putra | Sunday, December 17 2017 - 17:00 IWST
INDUSTRY.co.id - Jakarta - Bank Indonesia (BI) continues to safeguard consumer protection in the payment system and the digital economy. With technological advances especially in the field of payment systems, the digital economy produces innovations and economic efficiencies that deserve appreciation.
Executive Director of the Department of Communication, Agusman said, as the progress, BI as the authority of the payment system always put forward the aspects of security and consumer protection as well as a healthy business climate to create a financial technology industry capable of supporting the national economy.
"This is done among others by arranging and supervising the Service System Provider (PJSP)," he said in Jakarta, Saturday (16/12/2017).
In order to develop its business, he continued, PJSP, among others, take over the acquisition of share ownership of the company. In order for the monitoring of the payment system to be effective, BI requires that any planned takeover of shares to be undertaken by the PJSP both for business development and innovation development have prior approval from BI.
According to him, the obligations are applied to ensure that the development has been concerned with system security, consumer protection and national security. Accordingly, the PJSP can only implement the plan if it has been approved by BI.
One of the PJSPs that has obtained permission from BI as an electronic money issuer and fund transfer organizer in Indonesia is a Gopay application manager. With regard to information regarding the acquisition of shares by the owner of the Gopay application manager recently, BI will immediately conduct further research in the context of the supervision of the PJSP to ensure that the business activities have been carried out in accordance with the licenses and compliance with the prevailing principles and regulations.
In conducting research both on PJSP and the parties applying for permit as PJSP, Bl will do deepening among others from information technology point of view, document requirements, and other operational aspects. In addition, Bl will look at the ownership structure in a broader perspective by applying consolidated supervision if the company is part of a business group.
"If any PJSP violates the provisions, BI will conduct inspections and supervisory measures deemed necessary to ensure the preservation of consumer protection and the security of the Payment System of Indonesia," he said.