Mark The Second Year of QRIS Adoption Amidst Indonesia's Digital Financial Acceleration
DailySocial gathers interesting insights regarding QRIS adoption through a small survey
Recently, Bank Indonesia (BI) announced the rapid increase of QRIS based payment transactions over the past year. The transaction value has reached Rp 9 trillion in the first semester of 2021 or increased by 214% compared to the same period last year. The increasing number also happened to merchants using QRIS at 8.2 million. At least, there will be an increase of around 3 million from 6 million merchants at the end of 2020.
In a Digi X webinar held by Infobank, Bank Indonesia's Assistant Governor and Head of the Payment System Policy Department, Filianingsih Hendarta, said that the Covid-19 pandemic has had a significant booster effect on the acceleration of Indonesia's digital finance. Aside from the shifting consumer behavior to digital, this acceleration is backed by the players' collaboration in the digital ecosystem of the banking and non-bank sectors.
“In the near future, we are to launch the Customer Presented Mode feature as we currently have Merchant Presented Mode. We are also piloting QRIS transactions for cross borders, both inbound and outbound," said the woman familiarly called Fili.
With the unexpected achievement, how is the manifestation of QRIS implementation in the future during this situation, and what kind of efforts are needed to encourage its adoption?
QRIS or Quick Response Code Indonesian Standard (QRIS) is part of Bank Indonesia's five major initiatives towards the Indonesian Payment System (SPI) 2025.
QRIS was developed by Bank Indonesia and the Indonesian Payment System Association (ASPI) to combine various QR codes from various Payment System Service Providers (PJSP) into one QR Code. As a digital payment system, QRIS is designed as a QR Code Standard for server-based electronic money applications, digital wallets, and mobile banking.
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