Accelerating the expansion of sovereign payment infrastructure across retail banking and fintech sectors, Indonesia's central bank is expanding participation in its national credit card framework, CNBC Indonesia reports.

Following the formal launch of the Kartu Kredit Indonesia (KKI) Retail Segment on August 17, Bank Indonesia (BI) Deputy Governor Filianingsih Hendarta announced during the Board of Governors (RDG) briefing on August 19 that all licensed Payment Service Providers (PJPs) are eligible to become KKI issuers, provided they meet institutional compliance and operational criteria.

The open-architecture framework is designed to deepen domestic deferred-payment options while integrating local credit lines directly into national digital clearing rails. Developed in collaboration with the Indonesian Payment System Association (ASPI), the KKI framework establishes a fully interoperable domestic credit system.

Filianingsih confirmed that KKI transactions are designed to execute seamlessly across single Electronic Data Capture (EDC) merchant terminals and standardised QRIS (Quick Response Code Indonesian Standard) codes. The initial rollout features eight primary issuers: seven conventional tier-one commercial banks, Bank Central Asia (IDX:BBCA), Bank Mandiri (IDX:BMRI), Bank Negara Indonesia (IDX:BBNI), Bank Rakyat Indonesia (IDX:BBRI), CIMB Niaga (IDX:BNGA), Permata Bank (IDX:BNLI), and Bank Mega (IDX:MEGA), alongside Bank Syariah Indonesia (IDX:BRIS) as the sole next-mover issuer for Sharia-compliant KKI lines.

BI is executing the rollout across three distinct technical phases, including the first phase of digital card source integrated into QRIS apps for scan-based and contactless "QRIS Tap" retail payments, followed by second phase of integration into e-commerce checkout portals and online payment gateways. Finally, the third phase would be the distribution of physical chip-and-PIN domestic credit cards.

The opening of KKI issuance to all qualifying payment service providers highlights the government's efforts to broaden credit access via non-bank fintech. Licensing non-bank payment providers to issue KKI credit lines expands deferred-payment services to underserved retail and MSME segments.

Supporting Sharia-compliant KKI instruments through institutions like BSI meets demand for ethical financial products within Indonesia's digital economy. Transitioning from the first phase of QRIS digital integration to the second phase of the e-commerce gateways and the third phase of physical cards ensures steady merchant adoption and system reliability.