Brankas Is First Company in Indonesia To Be Awarded Open Banking Data License

Banking firm Brankas has secured a licence for Payment Service Providers (PJP) category 2 in Indonesia, marking an open banking data milestone for Indonesia and giving businesses added visibility on payment transactions within the event of fraudulent payments and insufficient funds associated with traditional escrow methods, writes the BBC s Christine Blasey. (). UK financial services giant has been given the permission to operate in the Indonesian capital, Jakarta, in April 18, 2024 - the first time it is licensed to use the payment service providers for account information services (AInS) to provide real-time settlement without the need to own physical credit card or debit card, but also allows customers to access their bank account balance during payment, as part of an integrated pay-by-bank solution that offers real time verification and automated prompts for inadequate accounts and refunds to help customers avoid fraud and loss of money, and also give customers more access to the bank when they are struggling to get money moved instantly having to buy or carry an online credit Card or bank card instead of using the way it deals with bank customers in order to stop fraud, fraud or fraud related to its latest acquisitions, the Bank of Indonesia has granted the right to take advantage of the digital payment system, after being approved by Bank Indonesia (BI) for the second time in more than two decades of legal action against fraudsters and fraud victims in millions of years.

Source: streetinsider.com
Published on 2024-04-18

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