a. Bank Indonesia in Payment System
The stability of the rupiah is one of the goals of Bank Indonesia under the mandate of Act No. 23 of 1999 concerning Bank Indonesia. An essential part of maintaining this stability is the regulation and management of the National Payment System (NPS). The smooth and efficient operation of the NPS also demands robust infrastructure. The more efficient and reliably the NPS can operate, the more efficiently and timely the operation of time-critical monetary policy transmission. Ultimately, the smooth and efficient operation of monetary policy will result in stable currency value.
BI is the institution responsible for regulating and safeguarding the smooth and efficient operation of the NPS. In …show more content…
Business Aspect
This section will further assess the principles adopted by JCB in developing National Payment System and discuss some matters relatted with business and oportunity in National Payment System.
• Who’s set the price and transaction fee? For On US and OFF US transaction, for debit and credit card instrument.
• Who does determine the pricing or transaction fee? How are the transaction price/transaction fee set? How to share the price “as income” to each party for example sharing the fee to the National Payment Institution, issuer, acquirer and other?
• Is it the responsible of JCB to resolve dispute transaction of customer? How about with the bank, merchant and also switching company (domestic and also international player)?
• What is the form of cooperation between JCB with other party or authority (Ministry of Transportation) for example by cooperate with Ministry of transportation in supporting payment system (ticketing service) in public transportation?
• What are the roles of JCB in assisting the social aid? How the role of JCB in assisting the delivery of social aid in Japan?
• Is there any obligation/ requirement from central bank/ JCB to enforce domestic bank to use a domestic logo in their instrument and payment channels? Is there any target of bank to sell their JCB/domestic …show more content…
Technical Aspect
Things that will be explored in this aspect are as follows:
• What are the role of JCB in providing and maintaining NPG’s infrastructure?
• What types of infrastructure needed to build and to support national payment system in China?
• What and how the role people’s Bank of China and Union Pay International in fraud handling? How to detect it? If it create a new system, how long does it takes to build the system?
• How to establish service level agreement? How to choose the service level to optimize the Service?
• How to establish the R & D function? ( is it only funded by JCB or bank/industry also take part in this activity) How to educate people regarding this policy and also marketing strategy regarding National Payment system in Japan.
• What is the security requirement/ standard used by National Payment System/JCB in Japan? Who set up the Standards? Who is involved in Security development? How to maintain the service level of Security?
d. Institutional Aspects In this aspect, important things to know including:
• Are there any specific strategic institution set for the national payment system which has functions of standard, switches or services? Who’s responsible for each