Visa, a global digital payment service provider, inaugurated its partnership with ALTO, an end-to-end bank switching service provider in facilitating debit card processing domestically in Indonesia on Thursday (10/6/201).
Through this partnership, both are committed to delivering global quality in the National Payment Gateway (GPN) system. This is done by providing development in many aspects and increasing ALTO’s capabilities to the world level around security systems, operational efficiency, and risk management. In addition to innovating the payment system, this collaboration is expected to expand literacy in digital payments in Indonesia.
Bank Indonesia welcomes the partnership because it has the potential to stimulate digital economic growth in line with national interests. GPN,” said Fitria Irmi Triswati, Director of the Payment System Policy Department of Bank Indonesia.
Based on data from Bank Indonesia, personal spending grew with 64.5 million debit card transactions worth IDR 29 trillion in April 2021. This figure has almost doubled compared to April 2020. This indicates a return to household spending and optimism about the economy. Indonesia is recovering gradually in the midst of the COVID-19 pandemic.
Visa and ALTO offer the latest technology and superior business services, with a national payment system that is safe, reliable, convenient and simple. Security will be prioritized and the reliability of the Service Level Agreement network up to 99.9% will be improved.
This collaboration was also appreciated by the Ministry of Trade. “We hope that this collaboration will be able to support a digital payment ecosystem that is safer, faster and cheaper to facilitate financial transactions,” said Airlangga Hartanto, Coordinating Minister for the Economy.