“Bank Indonesia Expands Cross-Country QRIS Interconnection to Singapore, Japan, and China”

Jakarta –

Bank Indonesia (BI) continues to expand the QRIS interconnection so that it can be used in more countries. Currently, the payment system via QR code has been implemented in Thailand and Malaysia.

BI Deputy Governor Filianingsih Hendarta said that in the near future QRIS could also be used in Singapore. It is hoped that the realization can be carried out before the end of the year.

“Singapore is currently developing from a technical point of view. So we are doing it in stages, currently 3 of the 4 Indonesian and Singapore switching have completed the user acceptance test. So they have tried each other and are connected, hopefully before the end of the year it can be implemented.” ” said Filianingsih in a press conference, Wednesday (25/5/2023).

Filianingsih explained that the steps to implementing cross-country QRIS were carried out in discussions between central banks between countries. After an agreement is reached, the discussion will continue at the payment service provider (PJP) level and only then can a pilot test be carried out prior to implementation.

Apart from Singapore, BI is also in the process of working with Japan and China to implement cross-border QRIS.

“With Japan there is a process of exchanging nondisclosure agreements, currently there is a switching appointment with the Japanese side. The initial meeting with China has already been carried out and we are now in intense discussion,” he explained.

After that, the new BI will target India and South Korea. “Yesterday the Governor signed with the Bank of Korea. After that, we will follow up with the next cooperation,” said Filianingsih.

That way, Indonesian people don’t have to bother carrying cash anymore if they’re visiting the country and want to shop.

BI noted that QRIS in Indonesia has reached 25.4 million merchants. In terms of users, as of March 2023 it reached 32.41 million or an increase of 20.9 million from 2021 which amounted to 11.5 million.

Watch Video “Seconds of Arresting Perpetrators of QRIS Barcode Fraud“

(aid/zlf)