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--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
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(END) Dow Jones Newswires
October 04, 2019 05:14 ET (09:14 GMT)
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