Bank Mandiri and Shopee Launch "Co-Brand" Credit Card

Bank Mandiri together with Shopee launched a credit card co-brandsMandiri Credit Card Shopee by leveraging Visa's global network. This collaboration is claimed for the first time in Indonesia, offering the convenience of non-cash transactions on the platform marketplace by using a credit card.

As is known, credit card penetration in Indonesia is relatively minimal. Quoting from Bank Indonesia data, the number of commercial bank credit cards as of the end of December 2020 was 16,94 million, down 3,14% yoy from the previous 17,49 million. Credit card transaction volume was recorded at 274,68 million, down 21,34% year-on-year.

Shopee's presence in Indonesia as a marketplace platform with the highest average visit of up to 90 million times last year, according to iPrice . report, became a gap to boost credit card penetration.

Bank Mandiri Network & Retail Banking Director Aquarius Rudianto said this collaboration was very strategic because Shopee is also one of the main players in the industry. E-commerce so the platform has a very large user base.

"With the various conveniences of making transactions a la Mandiri Credit Card combined with security features and various Shopee-style shopping benefits, we hope that credit card holders will be more diligent in shopping," he said in a virtual press conference, Wednesday (17/3).

Shopee Indonesia Executive Director Handhika Jahja added, "As a technology-based company, Shopee is committed to meeting the needs of every user through a series of initiatives and innovations, one of which is by collaborating with well-known partners to expand the range of product choices.

"We hope that Shopee's collaboration with Mandiri can be the first series of collaborations that bring benefits, especially in providing convenience, more benefits and a shopping experience online best for users," said Handika.

In credit card co-brands Currently, the two companies have prepared various offers, such as discount promos or discounts, cashback, free of handling fees for both full payment transactions or special installments for shopping at Shopee, which can help people to shop, but still be financially smart.

With Visa support, cardholders can shop at more than 70 million Visa merchants worldwide, in more than 200 countries, in more than 160 currencies. The card has also been carried with contactless technology, where the cardholder simply needs totap card to a cardless payment terminal must change hands and enter a PIN for transactions up to Rp1 million.

To apply for a credit card co-brand In this case, Shopee users can apply directly through the Shopee application. Next, Bank Mandiri will be contacted for the verification process.

Currently, Bank Mandiri has issued more than 1,8 million credit cards. Apart from Shopee, Bank Mandiri and Traveloka have also carried out a similar collaboration.