The central bank has been developing QRIS (a more complex QR pattern that allows users from one payment service to transfer funds to any rival service) since early last year. Since then, it has sought partnerships with financial institutions, banks, interbank network providers and e-wallet LinkAja.
The Jakarta Post reports that customers using e-wallet services like LinkAja, for example, can now transfer funds to a shopkeeper using OVO, a different e-wallet service. All it needs is that at least one party has a QRIS code. “QRIS allows QR-code-facilitated payments to be interconnected and interoperable through a single standardised code,” said BI governor Perry Warjiyo during the launch ceremony in Jakarta. “We believe that such a modern fast payment system is vital to support economic activity in Indonesia, where economic growth is still at around 5%. We believe that if the digital economy players leverage this new payment system, growth may be above 5% in the years to come,” says the central bank’s deputy governor Sugeng.