Digital Payment System QRIS Development, Benefits, Recognition, and Global Expansion

Development of QRIS (2019-2023)
QRIS (Quick Response Code Indonesian Standard) was launched by Bank Indonesia (BI) on August 17, 2019, as the first step towards integrating various digital payment methods in Indonesia. Starting with QRIS Face-to-Face (Merchant Presented Mode) in 2019, the system allowed merchants to accept payments easily through QR codes. In 2020, QRIS evolved by adding the QRIS Without Face-to-Face feature, expanding its use to online transactions.

In 2021, BI launched the QRIS Merchant Presented Mode, making transactions between merchants and customers even more seamless. The innovations continued, and in 2022-2023, QRIS was implemented internationally with Thailand, Malaysia, and Singapore, demonstrating BI's commitment to expanding digital payments in the ASEAN region. In 2023, BI introduced QRIS TUNTAS (Cash, Withdraw, Deposit), providing users with greater flexibility in conducting various transactions, both cash and non-cash.

Benefits of QRIS in Facilitating Transactions
QRIS has significantly changed the way Indonesians transact by creating a more connected payment ecosystem between sellers and buyers. According to data from the second quarter of 2024, QRIS was used by 50.5 million users and 32.7 million merchants across Indonesia. This reflects a year-on-year (YoY) transaction growth of 226.54% compared to the previous year, showing widespread adoption and public trust in this system.

In addition to facilitating transactions, QRIS also supports financial inclusion by reaching small businesses and promoting digitalization across various layers of society. With QRIS, small businesses are no longer limited by the need for complex banking infrastructure, as transactions can be completed quickly and easily through QR code scanning.

International Recognition for Digital Transformation
The innovations behind QRIS have not only been recognized domestically but have also garnered international acclaim. In 2023, QRIS received the "Indonesia Recognition of Excellence" award from OpenGov Asia. This award was given for QRIS's role as a 'game changer' in digital transformation that connects various financial and economic sectors. The award underscores that BI's efforts in developing QRIS have successfully created a significant positive impact, not just in Indonesia but also globally.

QRIS Blueprint and International Collaboration
Through the 2030 Blueprint for Indonesia's Payment System, Bank Indonesia aims to expand QRIS's reach to the global level. Countries included in the plan for international QRIS expansion include Japan, the United Arab Emirates, India, and South Korea. This expansion is expected to enhance international payment connectivity and efficiency, as well as strengthen Indonesia's position as a key player in the global digital payment ecosystem.

The first international collaboration of QRIS with Japan is expected to begin in 2024, with full implementation targeted for 2025. Previously, QRIS was successfully implemented in Thailand, Malaysia, and Singapore during 2022-2023, as part of BI's strategy to expand its reach in the ASEAN region. With a strong strategy and continually developing global partnerships, QRIS is projected to become the backbone of Indonesia's digital payment system, and a model for other countries in developing their own digital payment ecosystems.

These initiatives reflect Bank Indonesia's vision of creating a financial ecosystem that is inclusive, efficient, and globally competitive. With QRIS, Indonesia not only strengthens its domestic payment system but also cements its position on the international stage, driving sustainable digital transformation.

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