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Bank BJB boosts digital payment service to increase fee-based income
Bank BJB will offer Rp 500 billion worth of bonds in the first quarter as the first part of its shelf-registration subordinated bonds worth Rp 1 trillion to be issued this year.
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Bank BJB holds an investor gathering at the Fairmont hotel ballroom in Senayan, Central Jakarta, on Jan. 29, during which the bank offered the first part of its second shelf-registration subordinated bonds to investors. (JP/Moch. Fiqih Prawira)
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ublicly listed Bank BJB will boost its digitalization program through the use of QR-code payments to further increase its fee-based income.
The bank’s director for information technology, treasury and international banking, Rio Lanasier, said the bank planned to use the QR-code payment technology in 3,000 traditional markets and shopping centers in West Java and Banten by end of this year.
“In December 2019, we launched QR-code payment at Pasar Baru [trade center] in Bandung with more than 4,000 merchants as part of a pilot project for the use of QR Indonesian Standard [QRIS] nationwide,” Rio Lanasier told the audience at an investor gathering in Central Jakarta on Wednesday.
He added that the bank had previously tested the QR payment methods, though limited to its customers’ transactions.
The project will use Bank Indonesia’s (BI) QRIS system that was introduced in August last year and officially implemented in January. It allows users from one payment service to transfer funds to any rival service within BI’s ecosystem to encourage cashless payments.
Meanwhile, Bank BJB president director Yuddy Renaldi said the digitalization strategy would hopefully boost the bank’s fee-based income, which would be the bank’s main priority this year.
“We hope to achieve a significant increase in fee-based income in 2020,” he said, adding that the bank aimed to increase its fee-based income of between Rp 1.6 trillion (US$117 million) and Rp 1.8 trillion this year, a 60 percent to 80 percent jump from Rp 1 trillion last year.
