BI Calls for Acceleration of Chip Debit Cards Implementation

Tempo Interactive, Thursday, 21 January, 2010 | 14:20 WIB

TEMPO Interactive, Jakarta: Bank Indonesia (BI) has called on banks to accelerate the implementation of debit cards using chip technology in line with the increase in cases of thefts at ATMs in Bali.

Based on BI’s regulation, debit cards must have a chip technology for the data random process to ensure safer transactions.

Credit cards have implemented this regulation since December 31 of last year.

“But this has not yet been applied to debit cards because of the large volume,” said BI deputy governor, Budi Rochadi in Jakarta yesterday.

In a meeting with the six banks whose ATMs had been broken into, Budi asked for a speeding-up of the migration of magnet debit cards to chip debit cards.

“BCA has agreed to apply this in the near future,” he said.

However, the central bank has not set a deadline for the migration.

“We leave it to the banks to agree upon that,” Budi added.

The six banks that have been robbed are Bank Central Asia (BCA), Bank Negara Indonesia (BNI), Bank Permata, Bank Mandiri, Bank Rakyat Indonesia (BRI), and Bank Internasional Indonesia (BII).

The total financial losses are estimated to be Rp4 billion.

The first report was received by BCA on January 16, from one of its customers.

REZA MAULANA