IDNAround – Bank Indonesia (BI) initiated the Domestic Government Credit Card and QRIS International, which was officially launched by President Joko Widodo on Monday (August 29, 2022).
Bank Indonesia Governor Perry Warjiyo said that QRIS International is used as an acceleration of the digital economy and finance, as well as strengthening Indonesia’s cooperation in Southeast Asia in line with Indonesia’s role as the head of the G20 Presidency, the world’s largest economic forum this year.
Perry explained that Domestic Government Credit Card will be able to facilitate the purchase of goods and services from the government, both central and regional, with a government credit card payment scheme whose process is carried out domestically.
Application of QRIS International and Domestic Government Credit Card
The implementation of this Domestic Government Credit Card, in the initial stage, is carried out through QRIS interconnection which has been supported by 85 payment system operators with 20.3 million business stores or merchants.
QRIS has also been carried out to support the Proudly Made in Indonesia Movement, especially for MSME players to be able to transact digitally.
Perry also explained that QRIS, which was launched in May 2019, has become the only payment system standard that applies in Indonesia. QRIS users are also dominated by users from MSMEs.
In addition to QRIS, BI has also launched the Indonesian Open API National Standard and BI-Fast retail payment system infrastructure.
QRIS International Connection
Regarding QRIS connections between countries, Perry explained, Indonesia received commitments from four ASEAN countries, namely Thailand, Malaysia, Singapore, and the Philippines, to connect the payment system.
The implementation of the QR payment system connection has been trialled with Malaysia since January 2022, while with Singapore it is being finalized.
According to BI data, the value of QRIS transactions in one year was able to grow 305.49 percent to IDR 4.52 trillion in February 2022.
Meanwhile, QRIS transaction volume also grew 268.64 percent (year on year) to 54.91 million in February 2022.
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Source: Batam Pos | Editor: Hegi