Are Indonesian payments safe? Payment Risks Explained

As one of the largest digital economies in Southeast Asia, Indonesia's payment environment is developing rapidly, but security needs to be comprehensively assessed in light of local characteristics. The following is a comprehensive analysis from the perspective of risks and precautions:

I. Main payment methods and security status

1. Electronic purse (mainstream option)

   • Representative platforms: GoPay (Gojek), OVO, DANA, LinkAja
   • Security mechanisms: most have been certified by the central bank (BI-FAST), using two-factor authentication (2FA)
   • Risk point: small wallet operators may have data protection vulnerabilities

2. bank transfer

   • Real-time clearing system: BI-FAST replaces the old RTGS system
   • Advantage: directly supervised by the central bank, relatively reliable for large-value transactions
   • Note: Payee information needs to be verified for accuracy (common for accounts with the same name in Indonesia)

3. Convenience store cash payments

   • Popularisation of Alfamart/Indomaret collection services
   • Risk warning: retain paper vouchers for at least 3 months in case of disputes

II. Typical risk types and cases

• phishing scam: 2022 The Indonesian Monetary Authority report shows that about 37% of cyber fraud is committed through fake bank SMS.
• Merchant Side Vulnerability : Some small and medium-sized e-commerce companies are still using unencrypted payment links.
• Cross-border payment restrictions : The use of foreign cards on local platforms often triggers the locking of the card for wind control.

III. Practical recommendations for user protection

1. Account Settings

• Enable all biometric options (fingerprint/face recognition)
• SIM card binding PIN code (to prevent card replacement fraud)

2. trading habit

• Wallets such as OVO set a single day limit (recommended not to exceed Rp 5 million ≈ RMB 2,300)
• Avoid saving credit card details within super apps like Gojek

3. Dispute resolution channels

IV. Dispute Resolution and Rights Defence Channels

In case of payment disputes or fraud, Indonesian users can defend their rights in the following ways:

1. Direct contact with payment platforms

• E-wallet/bank customer service: Priority is given to submitting complaints via the 'Help Centre' within the official APP (response time is usually 24-48 hours).
  • GoPay: Select "Help Centre" → "Payment Issue" in the Gojek App.
  • OVO/DANA: Use the "Lapor Masalah" (Problem Reporting) function within the app.
• Telephone complaints: Some platforms offer English language support (e.g. BCA Bank Customer Service +62 21 500811).

2. Complaints to Bank Indonesia (BI)

If the payment platform does not handle the situation properly, a complaint can be filed with the Indonesian financial regulator:

• Bank Indonesia (BI) Consumer Protection: https://www.bi.go.id → "Pengaduan Konsumen" (Consumer Complaint) Fill in the form. You need to prepare evidence such as transaction vouchers and chat records. The processing period is about 7 working days.

3. financial services authority (ojk)

Serious violations against financial institutions can be reported to OJK:https://ojk.go.id, which applies to cases of credit card theft and illegal chargebacks.

4. POLICE CYBER CRIME UNIT (Bareskrim Polri)

Involvement in a large amount of fraud (e.g. fake bank transfers) should be reported as soon as possible at your local police station or by contacting the cybercrime unit:http://cybercrime.polri.go.id. Need to carry:

• Copy of KTP (identity card)/passport
• Bank statement or transaction record
• Screenshot scam information

V. Special considerations for cross-border payments

Foreigners need to be careful when using international payment instruments in Indonesia:

1. Credit/Debit Card Restrictions

   • Visa/Mastercard may be rejected at local e-commerce (e.g. Tokopedia only supports local cards)
   • ATM cash withdrawals are recommended to use big banks such as BCA/Maybank to avoid high fees.

2. exchange control

   • ⚠️ Cross-border remittances exceeding Rp 100 million (≈US$6,500) in a single instalment are required to declare the source.

3. Recommended alternatives

   A safer way to make cross-border payments:
   
   1. Wise (formerly TransferWise): excellent exchange rate, suitable for small personal transfers.
   
   2. PayPal binds the local bank to withdraw cash (handling fee about 4%).
   
   3.GrabPay overseas top-up (some countries only).
   
   

VI. Latest security trends in 2023

1️⃣ BI mandates 'QRIS Unified QR Code Standard' to reduce the risk of counterfeit payment codes.
2️⃣ Gojek/Tokopedia and other super-APPs have added a new 'Night Transaction Confirmation' feature (large payments from 23:00-5:00 local time require a second verification).
3️⃣ OJK requires all e-wallets to implement 'anti-money laundering monitoring', with unusual transactions freezing accounts and requiring KYC replenishment.

🔐 The ultimate safety checklist:

It is recommended to install the official anti-fraud APP: "JAGA ID" launched by OJK, which can detect suspicious transaction numbers in real time. (Available for download on Google Play/App Store)

If you need further advice on specific scenarios (e.g. property deposit payment, cross-border e-commerce settlement, etc.), we can provide more details for your targeted analysis.