The new features can serve fund transfers between users, cash withdrawals, and cash deposits at ATMs, CDM, or QRIS Tuntas agents starting September 1.
Heaptalk, Jakarta — Bank Indonesia introduced new features in the Quick Response Code Indonesian Standard (QRIS) named QRIS Tuntas which allows users to transfer, withdraw cash, and deposit cash (08/17). These features are expected to be implemented by September 1 or November 30 at the latest.
In more detail, the innovation can serve fund transfers between QRIS users as well as cash withdrawals and cash deposits at automated teller machines (ATMs), cash deposit machines (CDMs), or QRIS Tuntas agents. Users only need to scan the QRIS using an interconnection payment application between payment service providers, both banks and non-bank institutions that can facilitate sources of funds in the form of bank deposits or server-based electronic money.
This development is part of the implementation of the 2025 Indonesian Payment System Blueprint (BSPI) to accelerate the digital economy and financial inclusion while supporting stability and sustainable economic growth.
“QRIS Tuntas aims to encourage inclusion by expanding access to digital payments to all levels of society, especially low-income people, with coverage throughout Indonesia, including in remote areas or frontier, outermost, and least developed (3T) areas,” said Governor of Bank Indonesia Perry Warjiyo in a written statement.
Further, Perry conveyed that the QRIS Tuntas is intended to support payment system stability through interconnection and interoperability between providers and sources of funds. In addition, this innovation is also expected to encourage sustainable economic growth through an efficient pricing scheme while ensuring the continuity of services by the industry.
Starting QRIS trial in Singapore
In developing this innovation, Bank Indonesia cooperates with the Indonesian Payment System Association (ASPI) and representatives of payment system service providers. In its implementation, the new QRIS features will be subject to a pricing scheme that is claimed to be more efficient than similar services currently offered by the industry.
The launch of the QRIS transfer, cash withdrawal, and cash deposit features has gone through multiple stages, including the trial stage by the industry in the Bank Indonesia Payment System Technology Innovation Test Room. The trial involved 16 payment service providers and payment system infrastructure providers. Trial participants are expected to be first movers followed by other payment service providers who are ready to develop this feature.
Apart from the new features, Bank Indonesia also announced the commencement of a QRIS trial in Singapore, following a cooperation agreement between Bank Indonesia and the Monetary Authority of Singapore in 2022.
The payment connectivity with the QR Code between Indonesia and Singapore is expected to facilitate seamless and efficient trade between countries, particularly for MSMEs, and encourage the growth of the tourism sector. This trial will involve ASPI, Network for Electronic Transfers-Singapore (NETS), and representatives of payment system service providers.
