Bank Indonesia restricts four unlicensed e-money firms, including ’Shariah-compliant’ PayTren
Jakarta – Bank Indonesia (BI), the country’s central bank, has given e-money and e-payment services PayTren, TokoCash (Tokopedia), ShopeePay (Shopee) and BukaDompet (Bukalapak) 45 days to file their license registrations as electronic money operators, Pungky Purnomo Wibowo, BI Payment System Director, told Salaam Gateway.
BI restricted the services of the four platforms on October 1 as they were still not registered as electronic money operators, said Wibowo. Only services related to e-money such as deposit transfers and remittance transfers have been restricted while payments such as those for utilities bills are still allowed.
According to Wibowo, the restrictions were necessary to protect consumers. “We are really concerned about the security system and now we’re trying to manage the licensing process to protect the public. New operators should pass 14 requirements, then we will issue their license after 45 working days,” said Wibowo.
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