Bali :

News Flash:

Mastercard Partners With Crypto Gateway Provider to Drive Financial Adoption in Indonesia

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on telegram
Share on whatsapp
Share on email

Coin Telegraph are reporting that Mastercard will support crypto gateway provider, Fasset, to co-develop digital solutions to help drive financial adoption in Indonesia.

The collaboration aims to expand financial inclusion in the country and extend opportunities to its local economy.

In an announcement, Navin Jain, the Country Manager for Mastercard Indonesia, said they will support Fasset’s efforts to advance financial inclusion within the country. According to Jain, the partnership will help locals to have more access to digital technologies.

Hendra Suryakusuma, an executive at Fasset, told Coin Telegraph there is an unbanked population of 92-million in Indonesia. According to Suryakusuma, this gap will be bridged by Fasset and Mastercard to bring better access to digital financial services. Suryakusuma explained the “partnership seeks to lower the barriers to digital finance and drive greater opportunities to benefit from the use of emerging financial services.”

Apart from this, Suryakusuma also believes that crypto adoption in countries like Indonesia will also have a significant impact on the broader crypto ecosystem. He highlighted that it will serve as a reference for other countries to pursue progress and change the pace of economic growth. “The implications on the industry are greater legitimization of crypto assets, their use cases and areas of applications,” he further explained.

In June, Mastercard expanded its network for the Non Fungible Token (NFT) markets. The payment processing firm partnered with NFT marketplaces to allow its cardholders to purchase NFTs directly with their cards, eliminating the need to buy crypto before making NFT purchases.

Back in May, Michael Miebach, the CEO of Mastercard, made a bold prediction that the cross-border transaction platform SWIFT may cease to exist in five years during a panel on central bank digital currencies (CBDCs). However, after the panel, a spokesperson from Mastercard clarified that it’s not a yes or no question but rather a reinforcement of SWIFT’s previous statements that its operations will eventually evolve.

 

Source: Coin Telegraph

Latest Article

Join Our Online Forum

The Bali Expat Forum is one of the longest-running online communities for expats living in Bali. Click here to join

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

[wpforms id=”43785″]

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.