Aktivitas Penunjang Jasa Keuangan Lainnya Ytdl, Kecuali
Aktivitas Penunjang Jasa Keuangan Lainnya Ytdl, Kecuali
🏦 Section K — Financial & Insurance Activities
Other financial services not elsewhere classified — the catch-all for financial activities outside the specific banking, insurance, and capital markets codes. This code covers a wide range of activities, each with its own regulator: payment gateways, e-money issuers, money changers (KUPVA), forex brokers, guarantee companies, financial leasing (non-bank), and other financial intermediaries. **Critical: the regulatory authority and licensing requirements depend entirely on which sub-activity you operate — OJK, Bank Indonesia (BI), or both.** Do not assume one regulator covers all activities under this code.
What You Need
PP28/2025 Licensing Data1 scale
Post-License Obligations6
→ Submit periodic business activity reports to regulator
Risk: Menengah Tinggi. OSS Authority: Menteri — 7 working day Sertifikat Standar. But the sector-specific license from OJK or Bank Indonesia is the operative requirement.
SUB-ACTIVITY MATRIX — choose your activity and its regulator
ACTIVITY A — Payment Gateway / PJSP (Penyelenggara Jasa Sistem Pembayaran) Regulator: Bank Indonesia (BI)
- Izin: Izin PJSP under PBI No. 23/6/PBI/2021 (Sistem Pembayaran)
- Processing time: 6–12 months (BI review)
- Modal minimum: varies by PJSP category:
- Front-end (acquirer, payment initiation): IDR 3 miliar
- Back-end (switching, clearing, settlement): IDR 50–100 miliar
- Indonesian data server mandatory (PP 71/2019)
- PJSP categories: Penyelenggara Infrastruktur SP (PISP), Penyelenggara Jasa Pembayaran (PJP)
ACTIVITY B — E-Money Issuer (Uang Elektronik) Regulator: Bank Indonesia (BI)
- Izin: E-money license under PBI No. 20/6/PBI/2018
- Processing time: 6–12 months
- Modal minimum: IDR 3 miliar (untuk e-money dengan float < IDR 1 triliun)
- Server: must be in Indonesia
- Float management: e-money float must be placed in designated BI-approved bank accounts
ACTIVITY C — Money Changer (KUPVA / Kegiatan Usaha Penukaran Valuta Asing) Regulator: Bank Indonesia (BI) (transferred from OJK for KUPVA in 2022)
- Izin: KUPVA license under PBI No. 18/20/PBI/2016
- Processing time: 3–6 months
- Modal minimum: IDR 100 juta (much lower than other activities)
- Physical premises required; signage and rate display regulations
- Bali: significant market — many hotel guests use money changers; illegal operators abound
- Forex report obligation: all transactions above USD 10,000 must be reported to PPATK
ACTIVITY D — Forex Broker / Derivatives Trading Regulator: OJK + Bappebti (Badan Pengawas Perdagangan Berjangka Komoditi)
- Izin: Bappebti license for forex derivatives; OJK for securities-based forex
- Processing time: 6–12 months
- Highly restricted for foreign operators; retail forex margin trading is Bappebti territory
ACTIVITY E — Guarantee Company (Perusahaan Penjaminan) Regulator: OJK
- Izin: OJK license under POJK 6/2020
- Modal minimum: IDR 100 miliar
- Processing time: 6–9 months
Step-by-step for PT PMA payment gateway (Activity A — most common PMA path)
Terbuka — ownership percentage varies by activity and BI/OJK sub-regulation; payment gateways generally allow significant foreign ownership but BI regulation varies; confirm with BI before structuring.
Code 66199 was updated in KBLI 2025 to reflect the broader digital financial services landscape that emerged post-2020. The most significant regulatory development: **Bank Indonesia's PBI 23/6/PBI/2021** restructured the entire payment system licensing framework, replacing the previous PJSP categories; KUPVA regulation was also updated. OJK and BI have increasingly clear demarcation of jurisdiction since the OJK Act amendment (UU 4/2023 — Penguatan dan Pengembangan Sektor Keuangan / P2SK Law), which transferred certain BI supervisory functions to OJK.
Bali Intelligence
💳 Financial Services in Bali — The Real Opportunities
Money Changer (KUPVA) — Bali's most visible niche:
- Bali receives 6+ million foreign tourists annually; foreign currency exchange demand is massive
- Licensed KUPVA operators: DOLARINDO, PT BMM Kurs, Central Kurs — established players in Kuta/Seminyak/Canggu
- The illegal money changer problem: Bali's streets are full of unlicensed changers offering slightly better rates; BI and POLDA Bali conduct periodic enforcement; don't mistake the illegal operators for the licensed market
- PMA KUPVA niche: Digital currency exchange kiosk (smartphone-operated, transparent rates, digital receipts) — untapped in premium villa areas (Uluwatu, Berawa); appeals to quality-conscious foreign tourists who distrust street changers
Payment Gateway — the hotel/resort supply chain:
- Bali's 5,000+ F&B/accommodation businesses increasingly need international payment acceptance (multi-currency credit card, PayPal, Wise, crypto for some high-end villas)
- An OJK/BI-licensed payment gateway specifically designed for hospitality (PMS integration, direct settlement in USD/AUD/EUR) is genuinely underserved at the SME hospitality level
- Major incumbent: Midtrans (Gojek), Xendit, DOKU — but none specialized for Bali's premium hospitality segment
⚠ Critical Issues
- Do NOT conflate OJK and BI licensing — payment gateways need BI PJSP; money changers need BI KUPVA; forex brokers need Bappebti; guarantee companies need OJK; operating under the wrong regulator's license is criminal
- Illegal money changer trap — in Bali, operating a money exchange without BI KUPVA license is common but carries criminal penalties (UU Mata Uang); enforcement is sporadic but real
- PPATK reporting — all financial businesses above certain transaction thresholds must register with PPATK (financial intelligence unit) and report suspicious transactions; non-compliance = criminal liability
TKA Eligible Positions
Kepmenaker 228/2019 — Category 9: Jasa Keuangan dan Asuransi
Kepmen 228/2019 lists 45 TKA-eligible positions in the financial services category. Sub-activity determines which regulator (OJK or BI) conducts Fit & Proper tests.
KEDUA Provision — Directors & Commissioners Exemption
- 66191 — Fintech P2P Lending (if payment platform also enables loan disbursement)
- 62110 — IT/Software Development (building and maintaining the payment platform)
- OJK or Bank Indonesia legal counsel — WAJIB — the regulatory boundary between BI and OJK activities is nuanced; specialist legal advice is non-negotiable before filing any application
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