PT Artajasa Pembayaran Elektronis earns top honours at the Asian Experience Awards | Asian Business Review
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PT Artajasa Pembayaran Elektronis earns top honours at the Asian Experience Awards

Its dedication to innovation in the payment system industry drives national efficiency for its customers.

PT Artajasa Pembayaran Elektronis (Artajasa), a trailblazing pioneer in the Indonesian banking infrastructure network, has achieved a remarkable feat by clinching both the Indonesia Product Experience of the Year - Financial Services and Indonesia Service Experience of the Year - Financial Services award at the prestigious Asian Experience Awards 2023.

Founded on February 10, 2000, Artajasa has been at the forefront of electronic transactions in Indonesia, establishing itself as a market leader in switching services, including ATM Bersama, ATM Bersama Debit, and ATM Bersama QR.

Product Experience of the Year

Artajasa's ATM Bersama QR represents a pivotal expansion of its ATM Bersama product, designed to meet the demands of the digital age and evolving consumer behaviour. In a world increasingly reliant on mobile transactions, ATM Bersama QR empowers customers to conduct transactions at merchants nationwide and in collaborating countries using QR codes for payment. This innovative solution also aligns with government initiatives to foster a cashless society and promote inclusive financial participation, thus contributing to Indonesia's economic development. 

Aligns with Bank Indonesia's plans to extend Interstate QRIS services to other countries, Artajasa has demonstrated its dedication to delivering fast, affordable, secure, and reliable payment system services for the benefit of the Indonesian population. Artajasa also actively supports the Bank Indonesia programs to accelerate digital financial inclusion through the Quick Response Code Indonesian Standard (QRIS) service. The company strengthens the electronic transaction infrastructure network and introduces various QRIS service innovations aligned with the evolving payment system industry.

QRIS is a cost-efficient payment solution because it does not require terminal investment costs, just scan the QR sticker provided to make payments. The presence of QRIS aims to stimulate spending, boost MSME transactions, expand market access, and strengthen regional economies. As of August 2023, nationally there were 28.38 million QRIS merchants and 40.05 million QRIS users, with a total nominal transaction value of IDR 18.33 trillion and QRIS transactions grew 89.64% (year-on-year). 

Meanwhile, in the same period, ATM Bersama QR membership has reached 45 members, with the number of merchants registered with Acquirer of ATM Bersama QR members amounting to 12.7 million merchants. The expansion of QRIS services internationally (to Thailand, Malaysia, Singapore and soon to other countries) is a significant milestone. 

In addition, Artajasa is developing services for cross-border transactions, both inbound and outbound, enabling individuals to conduct financial transactions within and beyond Indonesia's borders. Artajasa also plays a crucial role in supporting government programs by acting as a switch and providing enabler services to accelerate the implementation of Indonesian Credit Card (KKI) services, thereby strengthening the national payment system ecosystem.

Artajasa actively promotes interconnectivity and interoperability in payment systems and accommodates members’ customer needs that shift from card-based towards mobile-based transaction behaviour, such as facilitating interbank card-less withdrawal transactions.
As Artajasa continues to innovate and collaborate, it remains steadfast in its commitment to delivering fast, easy, affordable, safe, and reliable payment solutions for the benefit of all Indonesians, thereby contributing significantly to the growth of the payment system industry.

Service Experience of the Year

Artajasa's innovative initiatives address the limitations that small to mid-sized banks face when joining international Card Schemes (VISA, Mastercard & JCB).

Artajasa introduces managed services solutions for debit card issuance in partnership with international Card Schemes through its Third-Party Processor (TPP) Debit service. Aimed at banks looking to issue debit cards for transactions across all payment channels, including domestic and international merchants via Visa, Mastercard, and JCB networks, TPP Debit offers various advantages such as cost efficiency cost in system investment infrastructure and end-to-end solutions for card issuing businesses.

Artajasa also provides a Third-Party Card Management (TPCM) solution, a comprehensive, end-to-end managed services offering developed in collaboration with the Lintasarta as Consortium. TPCM caters to financial institutions aspiring to venture into credit card, BNPL and digital loan businesses, offering an affordable investment pathway without requiring massive economies of scale. TPCM services include providing hardware, software, network principles and IT Operations.

Artajasa's commitment to digital transformation through the provision of end-to-end managed services and KKI solutions by TPCM. This allows financial institutions to enter the credit card, BNPL and digital loan markets whilst converting investment costs into operational costs. Artajasa also enhances transaction risk management through its Fraud Management System service.

It offers a unified solution for various card types, including chip-based, contactless, and virtual cards, ensuring secure, cardless transactions. With robust features like two-factor authentication and tokenisation, TPCM enhances transaction security, positioning itself as a safe system for modern payment needs.

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at [email protected].

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