Government Launches Digital-Based Indonesian Credit Card
The Indonesian government has officially introduced the Indonesian Credit Card (KKI) for the retail segment. This innovation is designed as a modern payment instrument that provides credit facilities to its users as a primary source of funds.
In the initial phase of its launch, the card will be available in a digital format. Users do not need a physical card, but can instead use it directly through the QRIS payment system, which is already widely distributed across various outlets throughout Indonesia.
This system uses a 'deferred payment' method. This means that users can conduct transactions first and settle their bills at a later date in accordance with the terms applicable to the credit service.
This step is part of an effort to digitize the national payment system to make it more efficient and practical. With its integration into QRIS, the public is expected to be able to conduct cashless transactions more easily and securely at various shopping locations.
The presence of the KKI is expected to boost financial inclusion in Indonesia. In addition to simplifying daily transactions, this system also provides flexibility for the public in managing their finances through digitally integrated credit facilities.