Indonesia Hopes QR Code Payment Extended To Indo-Pacific Countries

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JAKARTA - ASEAN Business Advisory Council (ASEAN-BAC) chairman Arsjad Rasjid said Indonesia hopes that the digital Quick Response (QR) Code payment service can be expanded not only among ASEAN member countries, but also countries in the Indo-Pacific.

Arsjad said that QR Code transactions are one of ASEAN-BAC's priorities in the field of digital transformation.

"ASEAN-BAC is working to promote cross-border digital payments aimed at connecting payments and MSMEs across ASEAN. We want to expand this to more Indo-Pacific countries," he said at a discussion in a series of ASEAN 56th Anniversary commemorations in Jakarta as reported by ANTARA, Tuesday, August 8.

At the 42nd ASEAN Summit in Labuan Bajo in May 2023, the leaders of ASEAN member countries adopted a declaration to strengthen the implementation of local currency transactions and digital payment connectivity between ASEAN countries.

ASEAN leaders emphasize the importance of reducing risk and vulnerability due to the use of foreign currencies and the importance of strengthening a faster, cheaper, and secure cross-border payment system, including through the universal integration of QR Code payment services.

Arsjad, who is also the Chairman of the Indonesian Chamber of Commerce and Industry (KADIN), said that ASEAN-BAC targets digital payment services for QR Code to be used between ASEAN member countries in September 2023.

Chairman of the ASEAN Business Advisory Council (ASEAN-BAC) who is also Chairman of KADIN Arsjad Rasjid (left) in the discussion "Towards the ASEAN-Indo-Pacific Forum 2023" (ANTARA/Shofi Ayudiana)

Currently, a number of ASEAN countries have started implementing bilaterally agreed QR Codes, as has been done between Indonesia and Thailand and Singapore.

In addition to increasing payment connectivity, ASEAN-BAC is also trying to realize ASEAN's View of Indo-Pacific (AOIP) through increasing business partnerships and inter-community business connectivity.

In addition to the QR Code, there are several other legacy projects proposed by ASEAN-BAC to get the attention of ASEAN leaders. These projects include Wiki Entrepreneur, Marketplace Lending Platform, ASEAN Net Zero Hub, and ASEAN Business Entity.