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BRI and Alipay collaborate on digital payment
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B
ank Rakyat Indonesia (IDX: BBRI) has announced that it received approval from the Financial Services Authority (OJK) and Bank Indonesia (BI) to accept and process Alipay wallet transactions in Indonesia as acquirer.
BRI becomes the first bank in Indonesia to collaborate with mobile and online payment platform Alipay to increase the use of payment methods through the Indonesian Standard Quick Response Code (QRIS) in Indonesia.
Aiming to universalize cashless payments in the country, the BI-launched QRIS code system enables users from one payment service to transfer funds to any rival service within BI’s ecosystem.
Founded in 2004, Alipay users reportedly reached 870 million in 2018, making it the world's number one mobile payment service organization.
BRI continues to strive to increase the expansion of the cashless transaction system in the community through the QRIS payment method.
"One of BRI's efforts is to collaborate with Alipay as a provider of applications or payment instruments from abroad so that people can transact in Indonesia through QRIS BRI," BRI director of consumer Handayani said.
This collaboration allows Alipay users visiting Indonesia to make payment transactions using QRIS at BRI merchants and enjoy a comfortable and smooth digital payment experience from their smartphones.
Under this collaboration, BRI also partners with PT. QFPay Technology Indonesia as a support provider (system integrator) to integrate BRI into Alipay systems.
According to data from Statistics Indonesia (BPS), Chinese tourists to Indonesia from 2009 to 2019 grew significantly by around 450 percent, which is seen as having huge market potential related to the cooperation with Alipay.
The increasing number of tourists to Indonesia annually is expected to increase BRI’s fee-based income.
As an initial step of the collaboration, BRI will focus on penetrating Alipay's acceptance in BRI's work areas throughout Indonesia that are visited by many Chinese tourists, such as Bali, Batam and Manado.
Outside these areas, BRI will roll out Alipay acceptance in all BRI's merchant network using QRIS.
"The launch of this collaboration is still in the framework of BRI's 125th anniversary. BRI will continue to be committed to encouraging a cashless payment society for the advancement of micro, small and medium enterprises and the Indonesian economy," Handayani said.
Information about BANK BRI can be accessed through www.bri.co.id
