Bank Indonesia to Issue Standardization for QR Code-Based Electronic Payment

BI (Bank Indonesia) will issue the standardization of QR (Quick Response) code for electronic payment system this month. The implementation will be restricted to 12 licensed companies. The issuance has been delayed since April 2018.

Onny Wijanarko, Head of Payment System Policy and Oversight Department, said that BI will choose ASPI (Payment System Association of Indonesia) as the standard institution. They will be in charge to create the standardization.

"The restricted implementation may be going until September or October this year," he said, as quoted in Katadata.

Some of the licensed companies are Go-Pay, TCash, OVO, BNI Yap!, and BRI. While finishing the implementation, other companies that already filed for QR code license have to re-register and complete the requirements.

"To issue the specifications [QR Code] is risky."

ASPI is an institution created by BI involving all representations of Indonesia's payment system industry players. It has given the authority in technical and micro extent for the standardization in payment system industry according to the terms and conditions.

– Original article is in Indonesian, translated by Kristin Siagian