Indonesia to impose fixed fees for e-wallet transactions, sources say
The Central Bank of Indonesia (Bank Indonesia) has entered into negotiations with a number of major payment systems. As part of the negotiations, they discussed the introduction of a 0.7% commission for transactions with QR codes.
The received commission will be divided between companies that directly carry out operations with electronic wallets, third-party payment processors and National Electronic Transaction Settlement.
It is worth mentioning that today there is already a commission for large retailers (for example, Starbucks), which is charged by providers of electronic wallets. It is 2%. The minimum fee is set to encourage the introduction of electronic wallets.
The introduction of the new tax could help reduce the number of e-wallets users among small merchants, as well as increase incentives for e-wallets providers.
Today, digital payment in Indonesia is a multi-billion dollar industry, as most of the densely populated country does not have its own bank accounts. One of the dominant payment systems is GoPay, which is supported by Google and Tencent. This is the case with Ant Financial's Dana, a state-owned company LinkAja, and Ovo.
One of the managers of an Indonesian e-wallet company described the plan to introduce the commission as a negative phenomenon that would harm the market, while the large payment systems did not comment on the remuneration offered but noted that the commission would be a positive step for the industry.