BI: Cost Policy 0.3 Percent Will Not Weight MSMEs

JAKARTA - The micro traders' policy of providing QR payments for Indonesian Standard (QRIS) is charged 0.3 percent, not burdensome for micro, small and medium enterprises (MSMEs).

"Moreover, spending below Rp. 100,000 is free of charge," said Head of Bank Indonesia (BI) Representative of North Sulawesi Andry Prasmuko, in Manado, quoted from Antara, Monday, August 14.

Andry explained that the cost policy, which is also known as the merchant discount rate (MDR), has been in effect since July 1, 2023.

The imposition of 0.3 percent of the MDR fee applies per transaction. BI provides an example if the transaction is IDR 100,000, then if it is charged 0.3 percent of the transaction is only IDR 300. Likewise with the next transaction.

Then, if the transaction amounted to Rp. 1 million, the discount was only Rp. 3,000. He said the cost of MDR for micro enterprises (UMI) of 0.3 percent was very cheap compared to other QRIS MDRs and before the pandemic.

"The adjustment of the QRIS MDR for UMI merchants to 0.3 percent is still cheaper than the QRIS MDR for other business segments or tariffs before the pandemic.

Prior to the pandemic, the QRIS MDR at the time of launch was set at 0.7 percent and applies to all segments of business actors.

However, when the pandemic hit, the QRIS MDR was set at 0 percent to support UMI's economic activity so that it would not be too affected by the economic downturn due to the COVID-19 pandemic.

Once now, the economic recovery has become increasingly intense, especially with statements that have entered the endemic, this policy needs to be adjusted.

He explained that the 0.3 percent discount or fee known as MDR was imposed on traders who provided QRIS payments. So the 0.3 percent fee is not imposed on consumers.

He also appealed to traders not to increase their price after the cost or merchant discount rate (MDR) was charged at 0.3 percent.

According to him, it is better for traders to take advantage of QRIS payment facilities, because the use of non-cash payments is currently widespread.