Bank Indonesia (BI) says that the Quick Response Code Indonesian Standard (QRIS) digital payment system will be made available in more countries.
According to Deputy Governor Filianingsih Hendarta, the central bank will sign agreements for the cross-border use of QRIS with South Korea, India, Japan, and the United Arab Emirates (UAE).
Indonesia has already established agreements on QRIS usage with Thailand, Malaysia, and Singapore.
An upward trend has been recorded in the average QRIS monthly transactions. Inbound transactions by visitors from Thailand have increased 13%, Singapore 28%, and Malaysia 8%. Meanwhile, outbound transactions by Indonesian tourists in Thailand have increased by 9% and in Malaysia by 4%.
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