JAKARTA Dec 14 Indonesia's central bank has cut
the maximum interest rate that banks can charge customers in a
bid to get people to do more transactions electronically instead
of using cash.
The maximum rate card providers can charge clients will be
2.25 percent a month starting from June 2017, from the current
rate of 2.95 percent, according to a regulation published on
Bank Indonesia's (BI) website on Wednesday.
Out of Indonesia's 250 million population, only 7-8 million
people own credit cards, although some are using more than one.
There are 23 credit card providers catering to the market, most
of them are banks.
(Reporting by Gayatri Suroyo; Editing by Richard Borsuk)