🧠 Food for thought

Implications, context, and why it matters.

Indonesia’s QRIS expansion is backed by a specific national strategy and rapid growth

• Bank Indonesia set a 2026 national strategy to expand QRIS (Quick Response Code Indonesian Standard), aiming for 17 billion transactions, cross-border use in eight countries, and 45 million merchants 1.
• QRIS already beat its 2025 targets with 59 million users and 42 million merchants. About 90% are micro, small, and medium-sized enterprises (MSMEs) 1.
• Cross-border QRIS works in Malaysia, Thailand, Singapore, and Japan. Bank Indonesia also ran sandbox trials (limited live tests) to connect QRIS with China’s payment system through UnionPay International (a major Chinese bank card and payments network) 2.

QRIS is a strategic move in an era of digital and trade fragmentation

• Indonesia is pushing digital payment integration within APEC as regional experts rank rising protectionism and trade wars as the top risk to economic growth 3.
• Interoperable payment links, payment systems designed to work across countries and networks, can strengthen regional commerce. The effort also reduces reliance on external markets as access to the US market grows less certain 4.
• The plan also addresses “digital fragmentation.” Growing restrictions on cross-border data could cut global GDP (gross domestic product) by up to 4.5% 3.