CONTINUE DIGITALIZATION, BANK SINARMAS LAUNCHES VIRTUAL VISA CREDIT CARD

Jakarta, 14 September 2021 – Bank Sinarmas (BSIM) and Visa, the world's leading payment network provider, today announced a partnership to launch a virtual credit card. This is carried out as one of the answers to the increasingly accelerated digital lifestyle, as well as meeting consumer needs for safe, convenient, and fast banking transactions and payments.

The Covid-19 pandemic & PPKM conditions that are still rampant at this time greatly affect people's behavior patterns, where people have to limit physical activities outside the home and get used to using digital technology more and more. In line with the Government of Indonesia's policy to limit community activities, daily activities such as work, school, shopping, as well as health consultations and so on also need to be carried out online from home.

Various digital banking innovations have been launched by Bank Sinarmas, such as opening accounts and opening deposits, all of which are 100% online. This time, Bank Sinarmas collaborated with Visa in launching its newest digital service innovation, namely "Virtual Visa Credit Card", through the Bank Sinarmas SimobiPlus mobile banking application. The Bank Sinarmas Virtual Visa Credit Card offers convenience and convenience for transactions, such as the 100% online card application and approval process. This convenience allows cards to be used for online shopping right away without waiting for them to be printed and shipped, which can be a time-consuming process.

“The shopping experience is even more fun because customers can enjoy 0% installment programs or other discount promos on various e-commerce platforms. For security matters for online transactions, customers do not need to worry because the card is equipped with a 3D secure service that secures the confirmation or authentication process during transactions. Not only that, customers can also manage their credit cards without any hassle using the "Manage Card" feature in SimobiPlus, where features such as card activation to submitting a physical card can be done easily. All of these advantages make the Bank Sinarmas Visa Virtual Credit Card a true virtual credit card.” said the President Director of Bank Sinarmas, Frenky Tirtowijoyo.

Riko Abdurrahman, President Director of PT Visa Worldwide Indonesia stated, “Visa is very pleased to launch this Bank Sinarmas Visa Virtual Credit Card as one of the leaders in Indonesia in offering virtual features to make it easier for customers to transact using credit cards online. The contactless trend has increasingly been adopted in global trade, so customers are increasingly expecting the convenience of completing payment transactions with credit cards on the e-Commerce platform in a convenient, safe, and fast manner. We are happy to share the same goal with Bank Sinarmas to support the vision of a cashless society from the government and Bank Indonesia, which in turn will encourage the nation's economic growth in the new normal going forward.”

“The online transaction sector is currently very much needed. Therefore, the Visa virtual credit card feature is very beneficial for our customers where e-Commerce payment transactions, dining with delivery or take away systems, healthcare and any other needs can be done easily. The development of the Visa Virtual Credit Card is certainly not our only innovation, because we believe and will continue to innovate in developing digital financial services to facilitate all customer needs. This is in line with Bank Sinarmas' commitment to continuously strive to provide digital-based financial solutions to customers." Said Frenky added.

About Bank Sinarmas

PT Bank Sinarmas Tbk. is a company engaged in the banking sector headquartered in Jakarta. The company was founded on August 18, 1989 under the name PT Bank Shinta Indonesia. In December 2006 changed its name to PT Bank Sinarmas

The vision of Bank Sinarmas is to become a leading bank in Indonesia with an integrated distribution network and excellent service. SimobiPlus is a mobile version of Bank Sinarmas Internet Banking service developed for Bank Sinarmas customers to perform banking transactions easily via Android and IOS-based smartphones.

Now SimobiPlus comes with a new look for #Easier and #Smarter transactions! Starting from top up credit, paying bills, transferring foreign currency to other Bank Sinarmas, buying Smart Investa Link (IDR) and Simas Investa Link (USD) policies only through applications and various other conveniences.

About Visa

Visa Inc. (NYSE:V) is the world's leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network that enables consumers, businesses and economies to thrive and thrive. Our state-of-the-art processing network VisaNet is a secure and reliable payment system globally and is capable of handling more than 65,000 transaction messages per second. Visa continues to innovate relentlessly that is the driving force behind the growth of the world of commerce through various tools, and is the driving force behind the dream of the future, namely a cashless world for all people, wherever they are. As we move from analog to digital, Visa brings our brands, products, services, network and efforts to change the shape of the world of commerce in the future. For more information, please visit About Visa, visa.com/blog dan @VisaNews.

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