About 19 million merchants using QRIS: Bank Indonesia

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TEMPO.CO, Jakarta – Bank Indonesia (BI) recorded that the number of merchants using its Indonesian Standard Quick Response Code (SQRI) currently stood at 19 million since its launch on August 17, 2019.

Of the total figure, 90% are micro, small and medium enterprises. QRIS makes payments easier, cheaper and faster, so all parties benefit.

“QRIS is one of the many initiatives we have taken to promote financial inclusion,” BI Senior Deputy Governor Destry Damayanti said Saturday at the G20 side event titled “Digital Finance to Support the financial inclusion”.

Damayanti highlighted BI’s unwavering commitment to supporting financial inclusion, starting with the Indonesia Payment Systems Blueprint 2025 in place to open access to millions of people, who are still inaccessible to banks and MSMEs through the scanning.

At this time, the digitization of payment systems has proven to be a game changer. Payment systems are also the backbone for the formation of a new economic ecosystem called the digital and financial economy ecosystem .

She noted that the digital economy and finance will be interconnected and integrated with each other. In recent years, technological innovation in payment systems had led to the creation of cost-effective options.

“These economic options are created through new business models, new players, the transformation of consumer behavior, the economic landscape and finance,” she pointed out.

In addition, the evolution of payments through digitalization has offered new opportunities, minimized barriers and reduced transaction costs, she noted.

As a result, financial services have become more affordable, accessible and inclusive, including for the current unbanked population and MSMEs who were previously less familiar with finance and technology.

She pointed out that with wider access, every economic actor has a more equal chance to develop and be creative in more inclusive growth.

ANTARA

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