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| BC Card CEO Lee Mun-hwan, left, and Bank Mandiri CEO Kartika Wirjoatmodjo shake hands after agreeing to boost their digital partnership at the latter's headquarters in Jakarta, Indonesia, Monday. Courtesy of BC Card |
By Park Hyong-ki
BC Card and Indonesia-based Bank Mandiri have agreed to develop a joint digital transaction service and platform, the Seoul-based credit card company said Tuesday.
The two sides will work together in electronic barcode payments and launch an Indonesian BC Card service via Mandiri's network.
This comes amid a growing number of people are using their smartphones to settle their transactions in the region, the card company said.
Mandiri is Indonesia's largest bank by assets.
BC and Mandiri forged ties to develop the latter's credit card system and expand merchant networks in 2014.
The partnership is in line with BC's efforts to seek opportunities abroad for new growth.
The Korean card firm also has ties with Vietnam-based LienVietPostBank in QR code payment services. LienVietPostBank is one of the top 10 commercial banks in the Southeast Asian country, with retail networks in more than 60 cities.
BC also has a strategic partnership with National Payments Corp. in India.
"With our expertise in digital settlements, BC seeks to further expand into global markets," said BC Card CEO Lee Mun-hwan in a press statement.
BC Card has a domestic alliance with Shinhan Card and Lotte Card in QR code payments.
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