Bank Indonesia (BI) plans to implement cross-border QRIS payments with China and South Korea before the end of the first quarter of 2026 (21/01). The initiative is part of BI’s effort to expand international digital payment reach.

Expansion Strategy and Regional Integration

Deputy Governor Filianingsih Hendarta said the move aligns with BI’s goal to establish payment cooperation with eight countries this year.

“Soon, hopefully before the first quarter ends, we can implement it with China and also South Korea,” she said during a press conference in Jakarta (21/01).

If the plan proceeds on schedule, China and South Korea will join Singapore, Thailand, Malaysia, and Japan in accepting QRIS payments. BI is also in active talks with Indian authorities and several other potential countries for similar collaborations.

Domestic QRIS Growth and Transaction Targets

BI has set ambitious domestic targets for QRIS in 2026, aiming for 17 billion transactions by the end of the year.

“This growth is supported by our targets from both the supply and demand sides. From supply, 45 million merchants are expected to accept QRIS, and from demand, 60 million users,” Fili explained.

The central bank noted that QRIS transactions have been growing rapidly, reaching a 139.99% increase year-on-year by the end of 2025.

PHOTO: BCA

This article was created with AI assistance.

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