It’s interesting to see how a developing nation like Indonesia does online banking.
Less than 1% of the population has a computer at home, and even fewer have a home Internet connection. Instead more people have basic cell phones for sending SMS messages primarily.
Internet banking is desirable for office workers in the capital of Jakarta to avoid traffic jams and check payments.
What’s different about Internet banking in Indonesia than the USA is that in Indonesia, true 2-factor authentication is used: something you know (PIN) and something you have (a hardware access token.)
Unfortunately in the US, we have 1.5-factor authentication for online banking: something you know (PIN) and something else you know (SiteImage, etc.) Good luck getting an access token from most US banks.
Why is Indonesia more serious about authentication? I think it has to do with a variety of factors. In Asia, generally companies don’t have refund policies, so the initial transaction has to be correct.
Also, Indonesia is a hotbed of online fraud, which pays far better than the national min. wage of $90/month. And computer anti-virus and firewall updates are sporadic due to lack of licenses and the poor Internet connectivity from Indonesia to outside.
BCA, Mandiri, and Niaga banks all require access tokens. Each bank has chosen a different color and shape.
KeyBCA is a blue triangle manufactured by Vasco.
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I have 2 Key BCA like this. It is actually the second version. First version has square look.
Nice to see your blog