Bank Indonesia Governor Perry Warjiyo said Indonesia’s digital payments system is becoming increasingly integrated globally, with the Quick Response Code Indonesian Standard (QRIS) now usable in Malaysia, Thailand, Singapore, and Japan.
Speaking at the launch of Indonesia’s Digital Innovation Centre at Bank Indonesia headquarters in Central Jakarta on Monday, 23 February, Perry said QRIS connectivity with China and South Korea will go live soon, while integration with Saudi Arabia and India is currently under way.
“It will be live in China shortly, as well as South Korea. We are also connecting QRIS with Saudi Arabia and India,”
Perry said.
Beyond cross-border expansion, Perry highlighted progress in domestic payment infrastructure.
He noted that Indonesia previously lacked a real-time funds transfer service and relied on clearing systems that only settled transactions several times a day.
Perry said the National Payment Gateway previously operated across multiple switching networks serving different user groups, which prevented the development of a unified fast payment system.
Fast payment systems allow transactions to run 24 hours a day, seven days a week, at low cost, he said, according to Tempo.
The total value of transactions processed through fast payment systems has reached Rp1.8 quadrillion, according to Perry.
Bank Indonesia is standardising interbank services through the Standard National Open API under a single national framework.
Around 30 to 35 banks in Indonesia now offer digital services via mobile and internet banking that integrate QRIS, BI-FAST, SNAP, and other digital payment services.
Featured image credit: Edited by Fintech News Indonesia, based on image by Bank Indonesia, SuYuk and Design Nahar via Freepik
