As a marketplace
operator, Alibaba offers a panoply of services to brands — advertising and marketing tools,
payment systems, logistics and cloud computing, media and entertainment properties.
The governor stated that while the apex bank and banking
operators had made efforts to reduce the incidents of fraud and ensure consumer confidence in the
payment system, the Cybercrime Act, if effectively enforced, would serve
as a deterrent and constant reminder to those who might wish to engage in illicit activities targeting the financial technology infrastructure.
The Bank Indonesia forbids all
payment system operator and financial technology operators in Indonesia, both bank and nonbank institution, to process transactions using virtual currency, as stated in Bank Indonesia Regulation No. 18 / 40 / PBI / 2016 on Implementation of Payment Transaction Processing and Bank Indonesia Regulation No. 19 / 12 / PBI / 2017 on Implementation of Financial Tech
payment system operator and financial technology
operators in Indonesia, both bank and nonbank institution, to process transactions using virtual currency,
as stated in Bank Indonesia Regulation No. 18 / 40 / PBI / 2016 on Implementation of
Payment Transaction Processing and Bank Indonesia Regulation No. 19 / 12 / PBI / 2017 on Implementation of Financial Tech
Payment Transaction Processing and Bank Indonesia Regulation No. 19 / 12 / PBI / 2017 on Implementation of Financial Technology.