Indonesia’s central bank, Bank Indonesia (BI), has responded to criticism from the US regarding the Quick Response Code Indonesia Standard (QRIS), asserting that it was developed in accordance with global standards.

Bank Indonesia Governor, Perry Warjiyo, confirmed that QRIS utilizes European Master Visa standards, with modifications to include Indonesian language coding.

He added that the system was developed in collaboration with payment system industry associations to align with national interests.

Launched in August 2019, QRIS seeks to enhance financial inclusion in Indonesia.

However, the US government has raised concerns about QRIS in its 2025 National Trade Estimate Report on Foreign Trade Barriers.

The report, released by the US Trade Representative, identifies QRIS as a trade barrier and highlights that it contributes to a 32% reciprocal tariff on Indonesian products.

🔗 Source: Tempo.co

🧠 Food for thought

1️⃣ Southeast Asia leads global shift to QR payments amid U.S. concerns

Indonesia’s QRIS is part of a broader regional transformation in payment technologies that’s rapidly changing how Southeast Asians transact.

E-wallets have become the dominant payment method across the region, with 79% of Southeast Asian consumers now using them and Indonesia showing particularly high adoption at 92% 1.

This regional shift is substantial, with cash transactions in Asia projected to plummet from 47% in 2019 to just 14% by 2027, driven primarily by QR codes and smartphone-based technologies 2.

The U.S. objection to QRIS reflects a tension between global payment giants and emerging regional payment ecosystems that are designed specifically for markets with different consumer behaviors and infrastructure needs.

Countries across ASEAN are developing similar national QR systems as part of a coordinated effort to enhance regional financial integration, including Singapore’s PayNow and Thailand’s PromptPay 3.

2️⃣ Digital trade barriers versus sovereign payment systems

The USTR’s criticism of QRIS continues its long-standing policy of identifying and challenging perceived barriers to U.S. digital trade, which has been a priority since at least 2016 4.