The Jakarta Post
Bank Indonesia (BI) wants 50,000 merchants in East Nusa Tenggara to use the digital Indonesian Standard Quick Response Code (QRIS) payment system by the end of this year.
BI East Nusa Tenggara province head I Nyoman Ariawan Atmaja said that as of March, 10,533 merchants had implemented the QRIS system in the island province.
"The merchants switched from the old QR to the new QRIS from August to December last year,” he said as quoted by Antara news agency on Wednesday.
He said the new QR system could help develop micro, small and medium enterprises (MSMEs) in the province.
I Nyoman said he would continue to accelerate the implementation of the QRIS system to reach the 50,000-merchant target. He added that banks such as Bank Mandiri, Bank NTT and Bank Rakyat Indonesia (BRI) had also helped carry out the QR switch.
Transactions through the QRIS system have been promoted as being more efficient because they use one standardized code for all mobile phone digital payment applications.
The government has said that the payment system is universal, easy, profitable and direct and that it aims to encourage transaction efficiency, accelerate financial inclusion, promote MSMEs and boost economic growth.
The switch to QRIS is part of the central bank’s National QRIS Week event across Indonesia, which is being held from March 8 to 15 to promote cashless transactions in small businesses.
The central bank has disseminated information about the technical details of the QRIS system and the registration process for small businesses that want to begin using it.
As of February, the QRIS code had been adopted by about 2.7 million merchants across the country, according to central bank data, 18 percent of BI’s 15 million-merchant target by the end of 2020. (eyc)