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E-MONEY - Bank Indonesia (BI) has officially set the maximum tariff of charging the electronic money balance, through the off-us or cross-channel transactions, at Rp1.5 thousand.
For the on-us, or one-channel payment, BI has decided the top-up tariff with two provisions, one is set at a maximum cost of Rp750 and the other is a tariff-free one.
The off-us transaction is a refill made through the channel of payment belonging to different card issuers, or through partners such as supermarkets and other retailers, while the on-us transaction is a refill made through the card issuer's payment channel.
Executive Director of the Communication Department of BI, Agusman, explained in Jakarta on Thursday that the maximum Rp1.5 thousand tariff limit for the off-us electronic money transaction is set to regulate the structure of current varied prices.
"For that, the publisher that currently has set rates above the maximum limit is required to make adjustments," he stated.
The top-up cost terms for the electronic money balance is stated in the BI Board of Governors Regulation No.19/10/PADG/2017 dated Sept 20, 2017, on the National Payment Gateway (PADG GPN).
As an illustration, the off-us transaction is a type of transaction involving third-party facilities and infrastructure. "For examples, the users of Bank Mandiri's electronic money top up the balance on another machine owned by another bank or in the machine at a merchant or another retailer, such as supermarket, clothing store, and others.
As for on-us payment, there is a provision of electronic money where refills can be free and can be charged. Before this PADG BI, the on-us transaction is not charged.
Through this new regulation, BI regulates that on-us is free if the balance of the electronic money reaches a maximum of Rp200 thousand.
If the balance is above Rp200 thousand, BI allows the bank to charge a maximum fee of Rp750 per top-up.
The on-us channel payment is a type of transaction that uses the facilities and infrastructure of the bank issuing the electronic money. For example, users of Bank Mandiri's electronic money refill the balance at ATM or Bank Mandiri branch office.
Agusman revealed that BI has set a pricing policy based on the upper-limit mechanism, or maximum, to ensure consumer protection and compliance with the principles of healthy competition, expansion of acceptability, efficiency, service and innovation.
In addition, BI consideration is based on the average value of electronic money refill of 96 percent of electronic money users in Indonesia, which is not more than Rp200 thousand.
This pricing policy is effective one month after GPN PADG is issued, except for the on-us transaction which will be applied after the BI Rule of Electronic Money is revised.
