Indonesian President urges country to become independent from Western Payment systems like MasterCard and Visa

Russian Foreign Minister Sergey Lavrov greeted by the President of the Indonesian Republic Joko Widodo at the G20 Summit in Nusa Dua, November 15, 2022 © Leon Neal / Getty Images

Revelations 18:9-11 “The kings of the earth who committed fornication and lived luxuriously with her will weep and lament for her, when they see the smoke of her burning, 10 standing at a distance for fear of her torment, saying, ‘Alas, alas, that great city Babylon, that mighty city! For in one hour your judgment has come.’ 11 “And the merchants of the earth will weep and mourn over her, for no one buys their merchandise anymore

Important Takeaways:

  • Top Asian economy urges citizens to abandon Western payment systems
  • The leader of Indonesia says the country must reduce its dependence on foreign payment systems, to negate potentially disastrous economic consequences should the country ever find itself in the crosshairs of Western sanctions.
  • “Be very careful. We must remember the sanctions imposed by the US on Russia. Visa and Mastercard could be a problem,” Widodo said on Wednesday at a gathering that promoted the use of Indonesian-made products and services.
  • The president urged the public sector to adopt domestic systems, stressing that eventually “everyone should be able to use” locally-issued bank cards so that “we can be independent.”
  • “If we use our own platforms, and everybody is using them, from ministries and local administrations to municipal governments, then we can be more secure,” Widodo said
  • However, in order to compete with Visa and Mastercard, any domestic alternative must be accepted internationally, experts cited by the Post said

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