Indonesia is not the first country to consider phasing out foreign payment systems. In recent years, countries like China and Russia have taken steps to develop their own payment systems and reduce their reliance on Visa and Mastercard.
With foreign arrivals to Bali expected to reach pre-pandemic levels of 6 million by 2025, Indonesia's national tourism board has described the new code as "totally counterproductive".
Critics have suggested that some Sharia or Islamic law-inspired local bylaws could get replicated in other areas which would lead to discrimination against women and the LGBT community in Indonesia.