Jakarta, Oct. 30 -- The Government of Timor-Leste has approved a draft decree requiring business entities to provide electronic payment methods and accept digital transactions, aiming to enhance transaction security, transparency and traceability.
The draft legal framework on the use of electronic payment instruments in economic activities was presented by Vice Prime Minister and Coordinating Minister of Economic Affairs Francisco Kalbuadi Lay and Governor of the Central Bank of Timor-Leste (BCTL) Helder Lopes at a Council of Ministers meeting on October 28.
The new regulation is intended to improve the efficiency, security, transparency and traceability of transactions, while promoting the development and use of the national payment syst...