JAKARTA - Indonesia has the initiative to expand the QR Code Indonesian Standard (QRIS) service that connects payments between countries (Cross-border QR) through the interconnection of national QR codes with neighboring countries. It also marks the achievement of an important milestone in the ASEAN Payments Connectivity initiative, which aims to promote financial integration in the ASEAN region. This statement was conveyed by the Deputy Governor of Bank Indonesia, Doni P. Joewono, at the first session of the seminar entitled “The Role and Impact of Payment Digitalization in Achieving a Truly Inclusive Development” (15/2).
Doni P. Joewono also revealed that QR Cross-border plays an important role in increasing transaction efficiency, supporting the digitization of trade and investment, and maintaining macroeconomic stability by expanding the use of transaction settlement using local currency (LCS).
Furthermore, Doni P. Joewono said, "Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand (BOT) have conducted a QR Cross-border trial that allows consumers and merchants in both countries to make and receive payments for goods and services via QR code instantly.”
In line with that, QR Cross-border is a future initiative with a prudent approach that can increase the value of MSMEs and the recovery of the tourism sector, said Chairman of Committee II of the Indonesian Payment System Association (ASPI), Abraham Adriaansz. Furthermore, the Deputy Chairman of AFTECH, Harianto Gunawan, assured that broad payment acceptance is important for digital payments, and is an important aspect for economic recovery. (LM)