U.S. Lobbied Indonesia Into Easing Payments Rules for Visa, Mastercard -Reuters
October 04 2019 - 5:29AM
Dow Jones News
--At the request of Mastercard (MA) and Visa (V), U.S. trade
officials in 2018 successfully lobbied Indonesia to ease rules that
would have required the companies to seek local partners under the
country's new domestic payment network, Reuters reported, citing
Indonesian sources and emails between U.S. officials and the
companies.
--Partnering with local companies would have reduced Visa and
Mastercard's earnings in Indonesia, the report said.
--The U.S. secured the changes in part by allowing Indonesia to
retain a privileged trade status under the U.S.'s Generalized
System of Preferences, Reuters reported.
Full story: https://reut.rs/31H9btQ
Write to Singapore editors at singaporeeditors@dowjones.com
(END) Dow Jones Newswires
October 04, 2019 05:14 ET (09:14 GMT)
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