Chip-Technology Management Standards for ATM and Debit Cards

Bank Indonesia(“BI”)has issued Circular Letter No. 18/15/DKSP dated 20 June 2016 on the Management of National Chip-Technology Standards for ATM and/or Debit Cards(“2016 Circular Letter”).The 2016 Circular Letter follows up BI Circular Letter No. 17/52/DKSP (“2015 Circular Letter”), [1] which requires owners of Automated Teller Machines (ATM) and/or the issuers of debit cards to incorporate chips, magnetic strips and six-digit personal identification numbers (PIN) into their ATM and debit cards. The 2016 Circular Letter, on the other hand, further regulates the national standard for the management of chip technologies for ATM and debit cards, and encompasses: