The Cost Of Transactions From QRIS Internasional Can Be Cheaper, Here's How To Use It

Illustration of QRIS between countries. (Ist)

YOGYAKARTA - QR Code Indonesian Standard (QRIS) with access between countries has been launched by Bank Indonesia (BI). Now QRIS can be used in 4 ASEAN countries, namely Malaysia, Singapore, Thailand, and the Philippines. QRIS between countries is good news for business people and consumers in Indonesia.

The launch of QRIS between countries was carried out by President Joko Widodo, accompanied by Perry Warjiyo (Governor of BI), Luhut Binsar Pandjaitan (Menkomarves) and Sri Mulyani (Menkeu), Monday 29 August.

"For QRIS, I also ask that it be connected between countries so as to facilitate our MSMEs, make it easier for our tourism world to communicate with other countries," Jokowi said during a speech at the launch of QRIS between countries, quoted from the Presidential Secretariat's Youtube video.

So what is the explanation of QRIS between countries and the cost of using it for transactions?

QRIS is a digital payment platform through the QR code or Quick Response Code Indonesian Standard. QRIS is a QR code standard developed by Bank Indonesia (BI) and the Indonesian Payment System Association.

Platfotm QRIS functions to facilitate the transaction process with a QR code to make it more efficient and more secure. All Payment System Services Providers (PJSP) who want to apply a QR code in payment activate QRIS. All QR codes will be integrated with all QR code-type payment applications only.

The use of QRIS as the payment medium is increasing year-on-year. In 2021, the total transaction value of QRIS reached Rp27.6 trillion. Of that total value, the transaction volume is 375 million times.

In 2022, as of April, the value of QRIS transactions recorded by BI reached IDR 7.4 trillion. This figure increased by 468 percent compared to the same period in the previous year, which amounted to IDR 1.6 trillion.

Now QRIS has been developed for use to foreign countries. The Governor of BI revealed that QRIS can be accessed and used in Thailand. Indonesians in the white elephant country can make transactions through QRIS in mobile, such as to pay for food or buy clothes.

Meanwhile, the QR code transaction in Malaysia is still in the experimental stage, which has been started since last January. Meanwhile, in Singapore, QRIS code is still in the stage of completing the cooperation agreement between Bank Indonesia and Bank Singapore.

Filianingsih Hendarta, Head of the BI Payment System Policy Department, said that the costs that must be paid by users will be cheaper. Because direct payments use local currencies, so QRIS between countries can be cheaper than using credit cards, taking them at ATMs, or exchanging money.

However, the public is still required to pay a fee for each transaction when making payments, aka not free. Meanwhile, sellers or merchants who facilitate payments with QRIS between countries are charged a merchant discount rate (MDR) by banks that provide services.

QRIS between countries can be used in an easy way. First, you must first install financial services applications that facilitate QRIS transactions between countries on your cellphone.

Do the following steps to use QRIS between countries:

That was the explanation regarding QRIS between organizations, how much it costs and how it is used. QRIS between countries makes it easier for people to transact internationally or to other countries.