Indonesia:
Payments And Lending: Trends To Convergence In The Indonesian Fintech Industry
26 July 2018
Morrison & Foerster LLP
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Originally, there were no foreign ownership limits for a
non-bank company to act as an e-Wallet provider, e-Money issuer or
fund transfer operator, leading to an influx in applications from
foreign owned providers in Indonesia.
On 7 May 2018, Bank Indonesia ("BI") published a new
Regulation on Electronic Money (Regulation No. 20/6/PBI/2018),
limiting foreign investments in the payment sector to 49% direct or
indirect ownership of the licensed entity.
This client alert was first published in April and has been
updated to reflect the impact of such new regulations on electronic
money in Indonesia.
Find out more in our client alert.
Mofo Tech Blog - A blog dedicated to information,
trend-spotting & analysis for science & tech-based
companies
Because of the generality of this update, the information
provided herein may not be applicable in all situations and should
not be acted upon without specific legal advice based on particular
situations.
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