Bank Indonesia Expands QRIS Cross-Border to Strengthen Indonesia’s Digital Payment Network
Bank Indonesia (BI) is expanding the implementation of Quick Response Code Indonesian Standard (QRIS) Cross-Border to strengthen Indonesia’s digital payment ecosystem and improve regional payment connectivity through collaboration with payment service providers, including Indonesia’s PT Finnet Indonesia.
Since its launch in 2019, QRIS has evolved from a domestic payment standard into a regional payment solution. Its latest innovations include QRIS Cross-Border, which facilitates international QR code payments, and QRIS Tap, a contactless payment feature powered by Near Field Communication (NFC) technology.
Mr Willy Togi, assistant director and senior economist at Bank Indonesia’s Payment System Policy Department, said QRIS Cross-Border has grown rapidly as digital payments become increasingly interconnected across the region. Mr Togi said the service has expanded to Thailand, Malaysia, Singapore, Japan, South Korea and China, enabling travellers to make payments by scanning QR codes using participating banking or e-wallet applications.
According to Mr Togi, the expansion of QRIS Cross-Border also benefits Indonesia’s micro, small and medium-sized enterprises (MSMEs). By displaying a single QRIS code, merchants can accept digital payments from international visitors without requiring additional payment infrastructure, making cross-border transactions more convenient and efficient.
Supporting the initiative, Indonesia’s PT Finnet Indonesia continues to strengthen its role as a digital payment enabler by providing issuer, acquirer and payment gateway services. The company is also developing merchant solutions, including transaction notifications and Soundbox devices, in line with Bank Indonesia’s digital payment policies.
Anton Daryono, director of technology product and operation and acting director of finance and risk management at PT Finnet Indonesia, said the company remains committed to supporting Bank Indonesia’s efforts to make digital payments more inclusive, faster, easier, more affordable, secure and reliable.
Mr Daryono added that wider adoption of QRIS also reduces dependence on cash by lowering the risks of counterfeit money and theft while creating transparent digital transaction records. As QRIS Cross-Border continues to expand, Bank Indonesia aims to accelerate digital payments, strengthen Indonesia’s digital economy and enhance regional financial connectivity.
Source: ANTARA News
