The New QRIS Feature Can Pull And Deposit Cash, Here's How It Works!

BI launched three new features for QRIS (photo: dock. Bank Indonesia)

JAKARTA - The latest Bank Indonesia report noted that digital banking transactions increased rapidly by 31.83 percent (yoy) and Electronic Money (EU) grew by 17.90 percent (yoy) in May 2023.

In addition, QRIS adoption is also increasingly widespread, it is reflected in the addition of the number of users and QRIS merchants, which currently have reached 35.80 million and 26.1 million, with a total transaction volume of 744 million, in line with the development of QRIS features in domestic and international countries.

Seeing this increase, BI finally decided to expand the QRIS capabilities or features, which will allow users to be able to make Transfers, Withdraw Cash and Cash Deposits. Interestingly, this transaction does not have to be in an ATM, but can be through QRIS agents throughout Indonesia.

So, how do the three new QRIS features work? Here's the explanation.

QRIS Transfer

This QRIS transfer feature will allow users to transfer funds to other QRIS users using only QR codes. The trick, the recipient must first generalize the QRIS code, after which the sender will scan the QRIS. Then, the sender will select the source and the amount of funds to be transferred. After that, you will receive a notification that the transaction has been successful.

QRIS Withdraw Cash

With the cash withdrawal feature, you will be able to make withdrawal transactions by scanning the QRIS code at an ATM or QRIS merchant who acts as an agent or partner for cash withdrawal. You only need to go to the ATM machine or QRIS merchant and inform the nominal amount to be withdrawn.

After that, scan the QR code displayed by the ATM machine or the QRIS merchant. Next select the source and the amount of funds according to the one to be withdrawn in cash and pin input, the balance will switch to the merchant account. Once successful, the merchant will hand over the cash.

QRIS Cash Deposit

Not only cash withdrawals, this last QRIS feature will allow users to make cash deposit transactions using QRIS code. To do this, the depositor must show his QRIS code to the scanner device in the Cash Deposit Machine (CDM/ATM) or QRIS merchants who act as agents or partners for cash deposits. Then inform the nominal you want to deposit, then put the money into the ATM machine or hand over the cash to the agent.