QRIS

Quick Response Code Indonesia Standard (abbreviated as QRIS, the abbreviation being a wordplay on keris, a traditional sword; ) is a QR code payment system developed by Bank Indonesia (BI) and the Indonesian Payment System Association (ASPI) aimed to integrate all non-cash payment methods in Indonesia. Launched in 2019, the system enables peer-to-peer (P2P) transactions between banks and person-to-merchant (P2M) payments. All payment service providers (PJP) who uses QR code payments are required to implement QRIS. QRIS can be used by all smartphones with a QR code scanner to transfer funds. QRIS is also available as a near field communication (NFC) based payment under the name QRIS Tap. By 2024, QRIS transactions in Indonesia have seen a significant surge of 226.54% over the past year, with the number of users reaching 50.50 million and 32.71 million merchants onboarded. The total annual value of QRIS transactions in 2024 is Rp42 trillion (equivalent to $2.57 billion).

Quick Response Code Indonesia Standard (abbreviated as QRIS, the abbreviation being a wordplay on keris, a traditional sword; ) is a QR code payment system developed by Bank Indonesia (BI) and the Indonesian Payment System Association (ASPI) aimed to integrate all non-cash payment methods in Indonesia. Launched in 2019, the system enables peer-to-peer (P2P) transactions between banks and person-to-merchant (P2M) payments. All payment service providers (PJP) who uses QR code payments are required to implement QRIS. QRIS can be used by all smartphones with a QR code scanner to transfer funds. QRIS is also available as a near field communication (NFC) based payment under the name QRIS Tap. By 2024, QRIS transactions in Indonesia have seen a significant surge of 226.54% over the past year, with the number of users reaching 50.50 million and 32.71 million merchants onboarded. The total annual value of QRIS transactions in 2024 is Rp42 trillion (equivalent to $2.57 billion).

US government response

In its 2025 Foreign Trade Barriers report, the Office of the United States Trade Representative claimed that QRIS, along with other monetary policies enacted by Bank Indonesia, were limiting American payment options. According to the report, U.S. companies, including payment providers and banks, expressed concern that during BI's QR code policymaking process, international stakeholders were neither informed about the nature of the potential changes nor given an opportunity to share their views on such a system, including how it might be designed to interact most seamlessly with existing payment systems. Meanwhile, Indonesia aimed to establish digital economic sovereignty by promoting a domestic payment system and safeguarding transaction data. The Government of Indonesia in coordination with Bank Indonesia and Financial Services Authority (OJK) states that QRIS is one of the government's steps to strengthen the national payment ecosystem. Governor Perry Warjiyo responded to the protest lodged by the United States Trade Representative, stating that QRIS was developed by adopting global standards, adapting those used by Europay, MasterCard, and Visa, while incorporating Indonesian-language settings into the coding. Deputy Governor Destry Damayanti said they are open to integrating QRIS with American payment standards, provided that the United States is willing to do the same. She also stated that Mastercard and Visa still dominate Indonesia's financial services sector.

References

Text derived from https://en.wikipedia.org/w/index.php?oldid=1378974627 under CC BY-SA 4.0; modifications have been made.