Jakarta, ThedailyID — Bank Indonesia and the Indonesian Payment System Association (ASPI) have launched the retail version of Kartu Kredit Indonesia (KKI), a domestic deferred-payment instrument for individuals and businesses.
The launch expands KKI beyond its previous government-only use. The card was initially designed to support spending transactions by central and regional government agencies.
Acting Bank Indonesia Governor Destry Damayanti said the retail KKI represents an effort to strengthen Indonesia’s sovereignty over its payment system while supporting consumer purchasing power amid global economic uncertainty.
“This domestic scheme gives businesses greater room to enter the digital ecosystem and provides an alternative credit facility to support consumer spending,” Destry said in Jakarta on Monday (Aug. 17).
The domestic credit facility is designed to provide a more efficient and integrated alternative for deferred payments through Indonesia’s existing payment infrastructure.
BI Payment System Policy Department Head Ryan Rizaldy said the retail KKI is also aimed at younger consumers, particularly as Gen Z and millennials increasingly shape Indonesia’s cashless payment landscape.
“At least the share of people, especially Gen Z and millennials, who use credit as a source of funds can enter this retail KKI segment,” Ryan said.
The first version of the retail KKI will be issued as a digital card that can be used for QRIS payments through both scan and contactless tap transactions.
BI plans to expand its features gradually, including online payments and eventually physical cards.
The first phase involves several payment service providers, including BCA, Bank Mandiri, BNI, BRI, CIMB Niaga, Permata Bank, Bank Mega and BSI for sharia-compliant financing.
The launch marks another step toward expanding domestic payment infrastructure while giving Indonesian consumers and businesses an alternative way to access credit for digital transactions.
