PT Rintis Sejahtera Partners UnionPay International To Issue Chip Technology Based Debit Cards Nationwide

Stocks and Financial Services Press Releases Thursday November 30, 2017 16:03
JAKARTA, Indonesia--1 Dec--PRNewswire/InfoQuest

Local ATM switch institution, PT Rintis Sejahtera (Rintis) and global payment network UnionPay International (UPI) signed a collaboration framework to collectively issue chip technology based debit cards in Indonesia. The collaboration will also pave the way for UPI to play a bigger role in helping Rintis and the local payment industry upgrade their payment infrastructure, and introduce new electronic payment modes to local consumers and businesses, as ASEAN accelerates its drive towards a cashless society.

As an expansion of the chip card licensing agreement signed between UnionPay International and seven member institutions of the Asian Payment Network (APN), including Rintis, last year, this new agreement will enlarge the scope of cooperation between the two parties and mark the issuance of the first PRIMA-UnionPay co-branded debit card based on UnionPay's chip card technology in the country.

With majority of the local debit cards still utilising magnetic stripe technology, UnionPay's chip card technology adds a layer of security to the payment processing procedure, preventing the copying of card and user data. Furthermore, with PIN-based authorisation, the PRIMA-UnionPay co-branded debit card enables transactions to be made more securely, opening up opportunities for the card to be used for online purchases and for other new modes of electronic payments to be introduced in the future.

"The signing of this agreement with UPI is an important step towards getting this collaboration off the ground. The Rintis team's commitment and passion for this collaboration has been getting stronger, and as we aim to jumpstart our collective effort with selected member banks during the first quarter of 2018, we are also looking to further our collaboration with UPI in the area of digital payments, starting with a QR Code payments proof-of-concept in early 2018," said Iwan Setiawan, President Director, PT Rintis Sejahtera.

"This partnership between Rintis and UPI is a great win for both parties. Firstly, as the payment industry in Indonesia is undergoing a transformation, UPI, with our global footprint in 162 countries and regions, is able to provide our expertise in payment products, services, technologies and network to help the local industry upgrade their payment infrastructure and position themselves for the future. Secondly, with the introduction of PRIMA-UnionPay co-branded debit cards on a large scale, this will enable more people to reap the benefits of paying with UnionPay cards, and allow us to deepen our understanding and partnership with local banks to serve consumers better," said Cai Jianbo, CEO, UnionPay International.

Currently, UnionPay cards are accepted at almost all ATMs and at major merchants and malls in Indonesia like DFS, Dufry, Grand Indonesia, Indomaret, Metro, Plaza Indonesia, Sogo and others. Globally over 45 million merchants and 2.55 million ATMs around the world accept UnionPay cards. With the new PRIMA-UnionPay debit card, consumers in Indonesia can enjoy increased convenience and ease of payment when making purchases locally and around the world. Furthermore, with over 1,400 exclusive UnionPay card privileges available at partner merchants around the world, Cardholders can reap greater savings as they shop with their UnionPay cards everywhere they go.

About UnionPay International

UnionPay International (UPI) focuses on the international business of UnionPay, a global payment network that serves the world's largest Cardholder base. With over 6.3 billion UnionPay cards issued in 162 countries and regions, over 45 million merchants and 2.55 million ATMs accepting our cards worldwide, UnionPay is currently one of the fastest-growing payment networks in the world.

As a company with a global acceptance network and a wide range of world-class payment services, UnionPay is committed to providing access to value and secure payment solutions that are tailored to the needs of the local market, to enable choice and ease of payment for consumers and businesses alike.

In Southeast Asia, UnionPay has enabled ATM, POS acceptance and card issuance across all 10 countries. In Indonesia, UPI partners Bank Mandiri, Bank Sinarmas, BCA, BOC, Bukopin, ICBC, Indopay, Rintis and others to provide a wide array of payment products and services. For more information, visit www.unionpayintl.com .

Photo - https://photos.prnasia.com/prnh/20171130/2004111-1

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