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Jakarta Post

MasterCard in talks with banks and telecom firms

  • The Jakarta Post

Jakarta   /   Fri, September 30 2011   /  08:00 am

MasterCard is in talks with Indonesian financial institutions and mobile phone operators to introduce its mobile payment gateway in the country, MasterCard’s senior executive said in Jakarta on Thursday.

Philip Yen, MasterCard’s emerging payments group head for Asia Pacific, the Middle East and Africa said that no agreements had been made but added that Indonesia sooner or later had to implement so-called mobile money to catch up with the rapid development in mobile payment technology in the world.

“It depends on the regulator and partners when they will be ready. But we are certainly hopeful that it will not be too far away,” said Yen, who visited Jakarta to attend the second Asian Payment Card Forum on Sept. 29-30.

Meanwhile, Vadyo Munaan, MasterCard’s vice president and senior country manager for Indonesia, said that the central bank had actually support...