Bank Indonesia Connects the QRIS Payment System to ASEAN Countries, Initial Tests Conducted in Thailand

JAKARTADAILY.ID – Bank Indonesia (BI) is connecting the Quick Response Code Indonesian Standard (QRIS) payment system with a number of countries in the Association of Southeast Asian Nations (ASEAN).

BI Governor Perry Warjiyo said that the Intercountry QRIS which had been tested with Thailand had begun to be fully implemented, and three other countries would follow suit.

"In the near future, in five countries, we will be able to digitize the QR cross-border payment system, fast payment with local currency payments, which also supports tourism, supports MSMEs, and also supports the national digital financial economy," Perry Warjiyo said at the Launch of Domestic KKP and Interstate QRIS, at the BI Building, Jakarta, Monday 29 August 2022.

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Perry said that the launch of the Domestic Government Credit Card (KKP) and Intercountry QRIS is part of the government's and BI's commitment to accelerate the national digital economy and finance and strengthen international cooperation.

"The holding of these two events is a tangible manifestation of our shared commitment to unite in accelerating the national digital economy and finance as well as strengthening international cooperation, especially in ASEAN in line with Indonesia's chairmanship in the G20," Perry explains.

Perry added, that this program is a follow-up to the direction of Indonesian President Joko Widodo (Jokowi) to connect Indonesia's payment system to the world, starting from the ASEAN region.

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“This is a follow-up to the direction of the President, connecting Indonesia's payment system to the world starting from ASEAN. In May 2022, we have gathered five central bank governors, namely Indonesia, Thailand, Malaysia, Singapore, and the Philippines, who have committed to connecting the payment system," he concludes.

Quoted from the official BI website, QRIS is the unification of various kinds of QR from various Payment System Service Providers (PJSP) using a QR Code. QRIS was developed by the payment system industry together with Bank Indonesia so that the transaction process with the QR Code can be easier, faster, and more secure.

All Payment System Service Providers who will use QR Code Payments must implement QRIS.

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Since its launch in August 2019 to date, more than 20 million merchants have used QRIS, and 90 percent of them are micro, small, and medium enterprises (MSMEs).