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4 lenders aid Bank Indonesia's national payment system

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4 lenders aid Bank Indonesia's national payment system

Four Indonesian banks signed an agreement to support Bank Indonesia's plan for an integrated payment system in the country, The Jakarta Post reported Dec. 22.

The integrated system called the National Payment Gateway will be supported by PT Bank Central Asia Tbk, PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank Mandiri (Persero) Tbk, and PT Bank Negara Indonesia (Persero) Tbk. The four lenders, which process 75% of debit transactions in the country, will also serve as acquirers.

Three switching companies, Artajasa Pembayaran Elektronis, Rintis Sejahtera and Alto Network, will also aid the central bank's plan to implement the system.