YOGYAKARTA – Indonesian citizens (WNI) visiting Singapore now don't need to bother exchanging money at the bank so they can shop in the Lion Country. The reason is, payments using the QRIS method have been valid in Singapore since Friday, November 17 2023. So, how do you use QRIS in Singapore?
Previously, Bank Indonesia (BI) and the Monetary Authority of Singapore (MAS) signed a Letter of Intent (LOI) regarding the framework for settlement of transactions in local currency (local currency settlement) and formalized the implementation of QR payment interconnection between Indonesia and Singapore.
This implementation allows users to make retail payments between countries by scanning the Quick Response Code Indonesian Standard (QRIS) or QR Network for Electronic Transfers Singapore (NETS).
"QR payment interconnection between countries is an important achievement of BI and MAS' efforts to encourage integration of the digital economic and financial ecosystem, as well as improving economic relations between Indonesia and Singapore," said the Governor of Bank Indonesia in a written statement, quoted by VOI, Monday, November 20 2023.
Perry added, with increased payment convenience, this interconnection will be able to expand market access for business actors in both countries, especially micro and small businesses by increasing the number of new consumers.
Apart from that, this effort will also benefit travelers from both countries as tourism increases again after the pandemic in the first half of 2023. In that period, there were 600,000 arrivals from Singapore to Indonesia, and 1.1 million tourists from Indonesia to Singapore.
How To Use QRIS in Singapore
Originally, the way to use QRIS in Singapore was almost the same as using QRIS in Indonesia. However, there will be a confirmation page for the value or price stated in rupiah.
For more details, pay attention to how to use QRIS in Singapore below:
- Open the payment application
- Scan or scan QR Singapore
- Enter the amount to be paid in Singapore dollars
- Confirm destination and nominal value in rupiah
- Enter PIN
- If successful, the message "Transaction successful" appears.
Please note, not all Indonesian banks or payment service providers (PJP) can carry out transactions using the QRIS method, and this is also the case with PJP Singapore.
Singapore merchants who can accept Indonesian payment applications are merchants with NETS QR or SGQR and SGQR+ with the NETS logo.
In Indonesia, all QRIS merchants can accept payments from Singapore payment applications.
The following is a list of Indonesian payment applications that can scan Singapore QR Codes:
- Bank Central Asia (BCA)
- Bank Rakyat Indonesia (BRI)
- Bank Syariah Indonesia (BSI)
- Bank Permata
- CIMB Niaga
- Bank Sinarmas
- Bank Mega
- Bank BPD Bali
- DANA
- Netzme
Meanwhile, Singapore payment applications that can scan Indonesian QR Codes are:
- UOB
- OCBC
This is information about how to use QRIS in Singapore. Get other selected news updates only on VOI.ID.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
