BC Card signs contracts for Indonesia's digital payment project

BC Card Co., a South Korean credit card company, said on Friday it has signed two contracts to provide digital payment services for Indonesia’s national project.

The company said it inked a deal with Pinnet, Indonesia’s state-run electronic payment agency, to issue government purchase cards for local banks. It also signed an agreement with Bank DKI, a regional bank owned by Jakarta’s provincial government.

The purchase cards are similar to BC Card’s domestic business of issuing cards for public institutions and corporations. The company said this is the first case of exporting its card issuance business overseas.

During the four-day MWC 2023 event held in Barcelona, Spain from February 27, BC Card showcased its digital payment platforms, including pay-Z, BC Gateway, BAIS and N2N technology, which attracted many visitors.

According to BC Card, successful overseas expansion has been achieved through three-way cooperation between  Korean government's overseas financial institutions, KT Corp., and BC Card.

Using this method, the company plans to further expand into Mongolia, Kyrgyzstan, Uzbekistan and the Middle East, and develop into a 'Global Financial BTS (BC Total Service).'

Write to Nan-Sae Bin at binthere@hankyung.com