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The use of the Quick Response Code Indonesian Standard QRIS as a digital payment method has become widespread among the Indonesian population This success can be attributed to the innovation and convenience offered by QRIS Beyond Indonesia QRIS can also be utilized as a digital payment method in countries such as Thailand Malaysia Singapore Philippines Vietnam Laos and Brunei
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As of October 2023 the number of QRIS merchants has reached 296 million merchants 92 are Micro Small and Medium Enterprises In line with this development QRIS transactions between IndonesiaThailand and IndonesiaMalaysia also continue to grow positively with the number of transactions in October 2023 recorded at 59 thousand transactions
With QRIS customers can effortlessly make payments by simply scanning the QR code displayed by a business Crossborder advancements According to Nurul Ardhaninggar digital manager of government investment at the Ministry of Finance of the Republic of Indonesia the ease of the current payment system is in line with the globalisation era
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In its development QRIS has facilitated payment connectivity between countries since 2022 The coverage is Malaysia Thailand and now expanding to Singapore which was launched on November 17 2023 Powerful synergy between countries especially in the region under the umbrella of Regional Payment Connectivity RPC is one of the main strategies in expanding QRIS acceptance which will
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Currently Malaysias DuitNow is linked with NETS in Singapore QRIS in Indonesia PromptPay in Thailand and Alipay in China When travelling to these countries Malaysians can make payments overseas through mobile banking or ewallet apps by scanning the respective payment service operators QR code at participating stores
Second OMFIF Asian Central Banks Watchers Conference Tenth Bank Indonesia Annual International Seminar Asia as an Engine for World Growth Investment Focus Indonesia QRIS features and services in terms of crossborder QR via national QR interconnectivity with neighbouring countries This also marks an important milestone of the
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Asias First RealTime Payment Network About 398 of QRIS users make purchases between 50000 and 100000 DFCC Bank Collaborates with Mastercard to Facilitate Electronic Payments via
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Second OMFIF Asian Central Banks Watchers Conference Tenth Bank Indonesia Annual International Seminar Asia as an Engine for World Growth Investment Focus Indonesia QRIS and NETS QR allow merchants to accept payments from customers of different participating banks and ewallet operators using a unified QR code 3 Data of January
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The collaboration between Bank Indonesia BI and the Bank of Thailand BoT makes it easier for tourists from Indonesia who want to travel to the country The trial phase has been running since August 17 2021 MAS to provide payments via QRIS in Singapore However the plan to launch this payment system will be carried out in the second