Electronic wallet or more popularly known as e-wallet ushered in the era of digital transactions. In order to provide certainty and legal umbrella for the existence of e-wallets, Bank Indonesia has issued Bank Indonesia regulation Number 18/40/PBI/2016 regarding Implementation of Payment Transaction Processing (“BI regulation No. 18/2016”) and Bank Indonesia Circular Letter No. 18/41/ DKSP dated 30 December 2016 regarding Implementation of Payment Transaction Processing (“BI Circular Letter
No. 18/2016”). What points to note for those interested in running an e-wallet business?
#1 General Requirements:
#2 Feasibility Criteria for Service Operators:
Fulfilment of the criteria for feasibility aspect above, in terms of legality and profile of the company, must be substantiated with documents according to the type and material specified in Annex I point C of BI Circular Letter No. 18/2016.
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1. Article 8 of BI regulation No. 18/2016