Indonesia rolls out international QR payments link-up with Thailand

Indonesia has launched an intercountry QR Code Indonesian Standard (QRIS) – a QR code payment standard from the country’s central bank – to make it easier for MSMEs to reach consumers in other countries.

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The government has piloted the cross-border QR payment linkage with Thailand, which will be implemented on August 29, according to Bank Indonesia Governor Perry Warjiyo.

Warjiyo said the central banks of five ASEAN countries – Indonesia, Thailand, Malaysia, Singapore, and the Philippines – have committed to connecting their payment systems.

A trial run has also been on in Malaysia since January this year, while Singapore is nearing implementation, he added.

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President Joko Widodo said in a live-streamed launching event that this move will support MSMEs and tourism businesses in Indonesia to connect with the international community.

The Indonesian government also launched domestic government credit cards to facilitate central and local government transactions.

Through the QRIS ecosystem, government institutions can use the credit cards at more than 20 million merchants throughout Indonesia. The move is expected to contribute to the national economic recovery in the short term and promote economic growth through efficiency.