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U.S. Helps Mastercard, Visa Score Victory in Indonesia in Global Lobbying Effort

“The decision would have hit the companies by reducing their earnings in Indonesia, especially on the more lucrative credit card fee” writes Gayatri Suroyo for reuters.com. The change will allow the U.S. companies to process credit card transactions without having to partner with a local company in Indonesia, the sources said.Indonesia’s decision represented a major lobbying victory for U.S. payment companies in efforts to beat back a host of new regulations in Asia and elsewhere around data storage or the promotion of local payment networks over foreign ones.The lobbying effort in Indonesia was detailed in more than 200 pages of email communications between U.S. trade officials and executives of card companies that Reuters obtained under the U.S. Freedom of Information Act.In contrast to the success in Indonesia, companies including Mastercard and Visa failed to convince India’s central bank to relax rules that force them to store data locally, Reuters reported last year.
 
Source: reuters.com



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