QRIS Interstate Payment Recognized as Best Innovation in Asia Pasific

Jakarta – Bank Indonesia (BI) revealed that the Interstate Quick Response Code Indonesian Standard (QRIS) won the Gold Award for the 'Operational Efficiency' category at the international Qorus Reinvention Awards Asia Pacific 2023 in Thailand. 

QRIS Interstate is a continuous innovation of the QRIS feature, which allows payment transactions to be made across countries.

Head of the Communication Department of Bank Indonesia, Erwin Haryono explained that the award in the operational efficiency category shows that QRIS has played a role in increasing the efficiency of payment transactions.

"In facilitating economic activities between countries more easily and safely, for the community and business actors, especially MSMEs, and supporting connectivity and payment inclusion," Haryono said in a statement here on Friday. 

By receiving the award, Qorus considers QRIS as an innovation that meets the criteria. 

"Among them in terms of originality, namely as a unique idea, useful in the long term, universally applicable in various countries, and has been tested," Haryono remarked. 

As information, QRIS as part of the Indonesian Payment System Blueprint (BSPI) 2025, was launched by BI together with the Indonesian Payment System Association (ASPI) on August 17, 2019.

In its development, QRIS has facilitated payment connectivity between countries since 2022. The coverage is Malaysia, Thailand, and now expanding to Singapore which was launched on November 17, 2023.

Powerful synergy between countries, especially in the region under the umbrella of Regional Payment Connectivity (RPC) is one of the main strategies in expanding QRIS acceptance which will provide great benefits including in the trade and tourism sectors, especially for MSME players.

As of October 2023, the number of QRIS merchants has reached 29.6 million merchants, of which 92 percent are MSMEs. 

In line with these developments, QRIS transactions between Indonesia-Thailand and Indonesia-Malaysia also continued to grow positively, with the number of transactions in October 2023 recorded at 59 thousand transactions.

"Bank Indonesia will continue to expand cooperation in QR payment interconnection with other partner countries to accelerate economic integration and digital finance," he remarked. 

It's known that the Qorus Reinvention Awards Asia Pacific 2023 is an award for large-scale financial institution innovations that shape the future of financial services in a region. This award is useful for encouraging a culture of innovation in financial institutions.

Qorus, based in France, is an independent institution with 50 years of experience in providing consulting, organizing events, a global community as a catalyst for financial institutions, especially banks, to optimize digital potential that helps the needs of society.