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BABP and Mastercard to launch MotionMastercard

27 July 2021 16:14

JAKARTA - PT Bank MNC Internasional Tbk (BABP), part of PT MNC Kapital Indonesia Tbk (BCAP) which operates MotionBanking and Mastercard has signed an MOU to launch MotionMastercard, a virtual debit and credit card, a substitute for plastic debit and credit cards that can be used digitally for online payment, under the Mastercard payment network.

In addition to releasing virtual debit and credit cards, this partnership will explore the development of Mobile Contactless by activating NFC (Near-Field Communication) transactions. This payment method allows smartphones that already have MotionMastercard to make contactless payments, simply by placing them near the merchant's payment tool.

“Mastercard is proud to be collaborating with MNC Bank on various strategic collaboration opportunities, especially for the launch of the MotionMastercard virtual debit and credit card. In addition, Mastercard and MotionBanking will also work together to enable contactless mobile transactions in the near future, as well as issue co-branded debit and credit cards. As consumer demand grows for digital-first products to support their daily work and activities, Mastercard hopes to launch more innovative payment solutions with partners such as MNC Bank. Both companies are fully committed to supporting the Indonesian government's cashless and financial inclusion agenda," Navin Jain, Country Manager, Indonesia, Mastercard."

MotionBanking also plans to establish strategic partnerships for collaborative virtual card issuance with other ecommerce and new economy players, in line with the consideration of cardless payment solutions. (LM)

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