Bank Indonesia pushes ahead with domestic credit card to cut reliance on foreign ones

JAKARTA (The Jakarta Post/Asia News Network): Bank Indonesia (BI) says it will introduce a domestic credit card system allowing for greater independence and lower fees, as transactions are settled locally rather than by foreign providers.

BI spokesperson Erwin Haryono said on Saturday (March 18) that the central bank had been in discussion with local industries and progress stood at 90 per cent, but he declined to reveal when the domestic credit card would be launched or what it would be called.