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Regulations 3 years ago
PREMIUM
QRIS transaction fee faces pushback from small businesses
Small businesses expressed objections to the Quick Response Code Indonesian Standard (QRIS) transaction fee of 0.3 percent, saying that it was a burden on the back of all other administrative costs they have to pay.
Regulations 3 years ago
PREMIUM
Defying the dollar: ASEAN pushes for greater local currency use
ASEAN leaders declared at this week’s summit in Labuan Bajo, East Nusa Tenggara, that member countries should use their own currencies more often in intraregional trade, as the bloc aims to insulate the region from external volatility.
Jakarta 3 years ago
PREMIUM
Dozens of fraudulent QRIS donation codes found at Jakarta mosques
A Jakarta man has been accused of replacing mosques’ charitable Quick Response Indonesia Standard (QRIS) codes, which can be scanned with a smartphone to make cashless payments, with ones connected to his own newly created bank account, called “Mosque Restoration”.
Economy 3 years ago
PREMIUM
Three payment evolutions as Indonesia goes cashless
Indonesia’s financial services industry is experiencing accelerated digitization. Bank Indonesia (BI) and entities such as the Indonesian Payment System Association (ASPI) are behind major developments in the non-cash payments sector, aimed at driving financial inclusion at large.
Economy 3 years ago
PREMIUM
Indonesia’s thriving payments sector to drive an interconnected ASEAN consumer class
Indonesia is among the Southeast Asian markets that witnessed strong shifts toward non-cash payments, with an overall 30 percent growth in transaction volume from 2016 to 2021. This is expected to increase by more than five times by 2031.
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