JAKARTADAILY.ID - PT Bank Negara Indonesia (Persero) Tbk (BNI) posted rapid growth in QRIS transactions in line with the increase in public consumption. The company recorded that it had acquired more than 1.6 million QRIS merchants.
BNI's QRIS has the advantage of a back-end system, so it is able to process transactions faster, as well as a wider range of merchants.
As for the volume of BNI's QRIS transactions, it reached Rp 297 billion as of March 2022, a significant increase from the initial optimization of the use of QRIS in August 2021 which was recorded at Rp 14.9 billion. BNI's total monthly QRIS transactions as of March 2022 were recorded at 1.5 million, up from August 2021, which was recorded at 140 thousand.
Researchers from the Institute for Development of Economics and Finance (Indef) Nailul Huda revealed that the achievements of BNI's QRIS transactions could have an impact on the company's business growth.
"If BNI can compete and adapt to this financial digitalization, I think transactions via BNI's digital services will increase and BNI will be considered as one of the most adaptive banks. Transactions will have higher growth," he said.
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Furthermore, Nailul said, banks need to increase the value and volume of QRIS transactions to support the cashless society movement.
"The impact on society is that transactions are more efficient by using cashless products like QRIS. The economy will be faster so that the velocity of money will be faster," said Nailul.
Nailul revealed that transactions via digital are indeed experiencing a significant increase, including the use of QRIS by banks. Various national banks have started to aggressively adopt QRIS in all their transactions.
“In the past, QRIS was like being controlled by a digital wallet. However, I think the competition can be very tight between banking and digital wallets, considering that the current banking technology has also led to cashless," said Nailul.
In fact, according to him, consumer confidence in electronic transactions is higher in banking than in digital wallets. Meanwhile, competition will also occur between banks that provide QRIS services.
"Because trust is almost the same, between banks usually launch promo wars: for every transaction and for every new account opening via the application," said Nailul.
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