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BI takes diplomatic route on US gripe over QRIS
True to form, Indonesia has taken a trade diplomacy approach in response to a report by the US Trade Representative criticizing QRIS as a foreign trade barrier, highlighting Jakarta's readiness to cooperate with Washington on the matter.
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Bank Indonesia (BI) Governor Perry Warjiyo (second left) looks toward his deputy Doni Primanto Joewono (left) as senior deputy governor Destry Damayanti (second right) and deputy Juda Agung look on ahead of a press conference in Jakarta on June 20, 2024, about the results of the BI board of governors meeting. (Antara/Akbar Nugroho Gumay)
B
ank Indonesia (BI) has extended an offer of cooperation after the Office of the United States Trade Representative (USTR) deemed the use of the Quick Response Indonesia Standard (QRIS) as the national QR code was a potential barrier to trade between the two countries.
BI Senior Deputy Governor Destry Damayanti said on Monday that Indonesia was ready to cooperate with its trading partners as well as other countries over the QRIS, based on their each country’s readiness.
“So, we don’t discriminate. If America is ready, we’re ready. Why not?” Destry said, as quoted by Tempo.co.
Read also: Bank Indonesia launches national standard QR code
Launched in 2019, the QRIS was created to streamline QR codes across multiple payment systems to allow merchants to receive payments from a variety of payment platforms consumers use, from mobile banking to e-wallets.
This March, BI launched the QRIS Tap, a feature that allows consumers to complete a transaction by placing their smartphone near a payment terminal instead of using their phone to scan a merchant’s QR code.
The central bank also has expanded the QRIS system’s regional reach by linking it to corresponding systems in Malaysia, Singapore and Thailand.
