Indonesia's central bank has done its part for financial payments harmony, launching a universal QR code that the many e-wallet and cashless payment services in the country are expected to implement by the end of this year, eliminating a pain point for both merchants and consumers who previously had to juggle between several cashless payment services. accustomed to using a single payment service.
Bank Indonesia initiated its "Quick Response Code Indonesia Standard" (QRIS) in May, with merchants now able to accept customer payments from any QR-based cashless payment service without having to sh...
Photo by Mitya Ivanov on Unsplash
The move to standardize Indonesia’s QR code is expected to unify the country’s cashless payments system and lift tens of thousands of small merchants into the payments mainstream
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