Indonesia financial sector sees banking closures and digital payment expansion

Indonesia's financial sector is seeing significant activity across banking, digital payments, and agricultural support. The Financial Services Authority (OJK) has revoked the business license of PT BPR Pasarraya Kuta in Bali due to capital and liquidity issues. The Deposit Insurance Corporation (LPS) has assured customers that their deposits will be reimbursed, with a verification process expected to conclude by January 26, 2027.

In the digital payment space, ShopeePay and Netzme are expanding QRIS adoption. ShopeePay is offering cashback to support Bank Indonesia’s national push, while Netzme has introduced ‘QRIS Pocket’ in Surakarta to facilitate cashless parking transactions. Additionally, Bank bjb has partnered with KAI Commuter to strengthen the public transportation payment ecosystem through co-branded cards and digital top-up services.

In the agricultural sector, Bank BPD Bali and OJK have collaborated to strengthen the cocoa farming ecosystem in Tabanan, Bali. This initiative aims to improve access to financing, risk protection, and market access for local farmers to support regional economic transformation.