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Jakarta Post

As payments become more digitalized, cyber security is paramount: BI

  • News Desk

    The Jakarta Post

Jakarta   /   Thu, September 5, 2019   /  05:14 pm
The Jakarta Post Image
A merchant displays a Quick Response Indonesia Standard (QRIS) on the left compared to a regular QR code on the right. The QRIS's pattern is more complex because it holds more coded data.(JP/Norman Harsono)

Bank Indonesia (BI) continues to campaign for a '"less-cash society" with the recent launch of a centralized QR standard and further development of the national payment gateway, implementing “international security standards” to contain cybersecurity risks. Starting January next year, the Quick Response Indonesian Standard (QRIS) will integrate existing QR-based payment apps such as Go-Pay and OVO to boost cashless transactions and promote financial inclusion in the country, said BI payment system policy executive director Pungky P. Wibowo. “With QRIS codes, there will be no more fragmentation or monopoly of the e-payment system,” Pungky said during a press briefing at BI’s headquarters in Jakarta last Friday. The integration of the QR payment system into the central bank’s QRIS technology is also needed to encourage micro, small...