QRIS: Will the new QR code standard rewrite Indonesia’s e-payments scene?

Indonesia

8 min read

Feb 17, 2020

By Putu Agung Wija Putera

By Lu Shu © CompassList

Enabling interoperability, the QRIS seeks to level the playing field until now dominated by GoPay and OVO – disruption that could go beyond the e-wallets scene

Bank Indonesia, the country’s central bank, has rolled out its Quick Response Code Indonesian Standard (QRIS), a single system for all QR code-based payments in the country. From January this year, merchants no longer have to show a different code for every different e-wallet, and customers can use any compliant wallet at any merchant accepting QR payments. Everyone who wants to accept QR code payments will have to use a QRIS-compliant code – including foreign e-wallets like Alipay and WeChat Pay, which both recently gained regulatory approval to operate in Indonesia.
In the last four years...

The rest of the content is only available if you are logged in.

Edited by Bernice Tang, S. Mani

DATABASE

INSIGHTS

RESEARCH & ANALYSIS

FOLLOW US