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BREAKING
Israeli media: Direct damage from Iranian bombing of "Israel" in one week is estimated at approximately 5 billion shekels (about $1.35 billion)
Unprovoked aggression against Iran has no basis or justification: Putin
Shahid Beheshti University Public Relations: The Israeli aggression targeted a building belonging to Shahid Beheshti University with the aim of sabotaging Iran's cultural and scientific infrastructure
Al Mayadeen correspondent: The Fordow nuclear facility was bombed once again, 24 hours after the US aggression.
Fars News Agency, citing informed sources: The Iranian Armed Forces used the Kheibar-Shekan, Emad, Ghadr, and Fattah missiles in their attacks on the Israeli entity today
Sirens sound from the occupied Golan Heights to Akka and Nahariya
Sirens sound again in the occupied Golan Heights and al-Jalil
Israeli media: Power outages reported in several settlements following a missile attack targeting an infrastructure facility
Israeli media: Strategic location in the south likely hit
Israeli media outlet: Reports of missiles falling in at least 7 areas, including Askalan, Safad, and Isdud

Widodo urges Indonesia to abandon Visa, MasterCard to be 'independent'

  • By Al Mayadeen English
  • Source: Agencies
  • 16 Mar 2023 15:54
  • 54 Shares
2 Min Read

This is in light of the implementation of a Domestic Government Credit Card payment system in March last year by the world’s seventh-largest economy.

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  • Indonesian president Joko Widodo during an interview in Jakarta in 2016 (Reuters)
    Indonesian president Joko Widodo during an interview in Jakarta in 2016. (Reuters)

As part of the new payment system launched last year, Indonesian President Joko Widodo called on Wednesday for his country to abandon the use of foreign payment networks like MasterCard and Visa and encouraged the public to adopt credit cards made by domestic banks.
 
At a local business gathering, Widodo emphasized that "everyone [in Indonesia] should be able to use" Indonesian-manufactured credit cards so that "we can be independent," as he explained that the aim is to avoid risking transactions in case of a geopolitical disruption that could economically affect the country.

According to the president, the initiative "shows that Indonesia is following the pace of digital technology transformation in the economic sector."

Read next: Indonesia, China announce lifting of trade barriers

Related News

Putin to Araghchi: Unprovoked aggression on Iran baseless, unjustified

Russia urges West to drop hostility, warns against NATO threat

"Be very careful. We must remember the sanctions imposed by the US on Russia. Visa and Mastercard could be a problem," he warned. 
 
This is in light of the implementation of a Domestic Government Credit Card payment system in March last year by the world’s seventh-largest economy in terms of GDP. It also follows after US-based Visa and MasterCard payment systems suspended operations in Russia as a response to the war in Ukraine. 

Read more: Bank Indonesia calls against payments in US Dollars

One of Russia's biggest banks, Sberbank, fired back by assuring in a statement that the suspension would not affect its internal transactions, but that payments abroad would instead be affected.

Widodo had already announced that he won't join the sanctions campaign against Russia.

Statistics Indonesia data that was released last month indicated that the country’s economy expanded by 5.31% in 2022, showing its best annual growth rate since 2013.

  • Russia
  • US
  • mastercard
  • Joko Widodo
  • visa
  • Indonesia
  • Credit Cards

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