UnionPay International has partnered with three banks in Indonesia – BCA, Mandiri and BRI – to boost card acceptance in the country.
The card company believes that the partnership will boost its acceptance coverage at local merchants from nearly 40% now to 80% by the end of 2017.
Earlier, BCA has enabled some of its merchants in Djakarta and Bali to accept UnionPay cards. Now, it will enable its remaining POS terminals to accept UnionPay cards in two years.
Mandiri, a state-owned bank, will also empower approximately 300,000 POS terminals to accept the UnionPay cards by mid- 2017.
Additionally, state-owned bank BRI has agreed to enable more than 100,000 POS terminals to accept UnionPay cards by the end of 2017. Currently, the ATMs of these three institutions accept UnionPay cards for cash withdrawal.
UnionPay International CEO Cai Jianbo said: “We are improving the local UnionPay acceptance environment and promoting the local issuance of UnionPay cards to support the personnel exchange between the two countries.
“First, we will enable 95% of the local ATMs and 80% of the merchants to accept UnionPay cards by the end of next year, in order to meet the demand of cardholders visiting Indonesia.
“Second, we will jointly issue UnionPay cards with Mandiri and BRI next year to offer new payment choices to the local residents.
“Third, we will actively promote cooperation with the local institutions in chip card standards while taking advantage of our technical standards, so as to promote the development of the local bankcard industry.”