BTN Partners with Bank Mandiri in Issuing E-Money

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  • TEMPO.CO, Jakarta - PT Bank Tabungan Negara (BTN) will release a card-based electronic money following three other state-owned banks that first issued the product.

    BTN Funding & Retail Director Sis Apil Wijayanto said his party is currently handling the licensing process in Bank Indonesia (BI) related to the permit as an issuer of the electronic card.

    “We only lack one requirement and will soon fulfill it with the principal permit.  We expect to launch it in the next three months,” Sis said in Jakarta on Monday, Aug. 31.

    For the electronic money platform and technology, BTN partners with PT Bank Mandiri, that had already developed the product.

    Sis said the company’s electronic money will later on go into the transport sector, including Transjakarta and communter line, parking, as well as retail transactions.

    After receiving permission from the Central Bank, the company plans to issue 20,000 electronic cards by the end of the year by focusing on customers in the Jakarta area.

    “We will first focus on Jakarta because 60 percent of our customers are located here.  We also focus on transportation first, then retail,” said Sis.

    Bank BTN CEO Maryono said with the release of this product, it hopes to facilitate the public in making payments, whether payments for transportation services, toll road access, parking, and in other retails.

    “Through this BTN prepaid card, it will be easier, comfortable and efficient for customers to make payments.  The launching of this card is in line with the support from Bank BTN in the Non-Cash National Movement program” said Maryono.