Bank Indonesia (BI) Governor Perry Warjiyo announced that the central bank has initiated the development of a sandbox for the Quick Response Code Indonesian Standard (QRIS) cross-border system between Indonesia and South Korea.

Speaking at the October 2025 Board of Governors Meeting press conference, held virtually in Jakarta, he said the collaboration aims to expand innovation and encourage the use of digital financial technology among the public.

“The enhancement of innovation and digital acceptance is being strengthened through the Indonesian Digital Economy and Finance Festival, in synergy with the Indonesia Fintech Summit and Expo 2025, featuring various initiatives such as the launch of QRIS Tap In/Tap Out and the sandbox initiation for the Indonesia–South Korea cross-border QRIS,” said Perry Warjiyo.

Strengthening Digital Financial Innovation Through International Collaboration

The cross-border QRIS initiative represents BI’s ongoing efforts to promote regional payment connectivity and strengthen cooperation between the two nations in the digital finance ecosystem.

Through this initiative, BI seeks to foster a more seamless and secure digital transaction environment, which aligns with its broader vision of deepening innovation and advancing cashless payments.

National Digitalization Programs to Support Financial Inclusion

Alongside the QRIS collaboration, BI has launched several programs to enhance local government digitalization and public financial literacy.

These include the Capacity Building and Literacy Synergy for Acceleration and Expansion of Regional Digitalization (KATALIS P2DD), the BI–OJK Hackathon 2025, and the QRIS Cultural Exploration of Indonesia program — all designed to strengthen the national digital finance ecosystem.

Monetary Strategy Enhancements for Market Efficiency

Beyond digital initiatives, Bank Indonesia continues to implement a pro-market monetary operation strategy to improve the effectiveness of interest rate transmission and enhance liquidity.

These measures are also intended to accelerate the deepening of the money market and the foreign exchange market, ensuring that the national financial system remains resilient and adaptive to evolving global economic dynamics.

PHOTO: BCA/KOMPAS.COM

This article was created with AI assistance.