Heaptalk, Jakarta – President Joko ‘Jokowi’ Widodo has officially launched Domestic Government Credit Card (KKP) and International Quick Response Code Indonesian Standard (QRIS) at Thamrin Building, Bank Indonesia (BI) (29/08). Regarding QRIS policy, Indonesia’s government and the payment destination countries have appointed several banks and e-wallet to allow the implementation of this innovation to work smoothly.
During his opening speech, the President appreciated the launch of the two innovative payment methods as these solutions have solidified the development of the digital economy in Indonesia.
“I appreciate the launch of Domestic Government Credit Card (KKP) and QRIS that has been carried out by BI. This proves that our country, Indonesia, follows the speed of digital technology shift in economy,” stated President Jokowi.
In terms of QRIS, this payment method, today, has been fully implemented in Thailand, while in other SEA countries, such as Malaysia, Singapore, and the Philippines, the process remains at the stage of trial and initiation.
As cited in Liputan 6 (30/08), Governor Assistance, Head of Payment System Policy Department of BI, Filianingsih Hendarta, stated that the way to use this cross-border QR payment linkage is similar to performing transactions in Indonesia. Today, about 8 applications, from 7 banks and 1 e-wallet, can be utilized in Thailand, including Bank Central Asia (BCA), Bank Syariah Indonesia (BSI), Bank Sinarmas, Bank Mega, PermataBank, BPD Bali, and DANA.
From the side of Thailand Authority, the banks incorporated into the system are Bangkok Bank, Krungsri (Bank of Ayudhya), and CIMB Thailand. This number, further, is set to increase in September with five additional apps.
Fili also added, “We are testing this system in Malaysia, and hopefully (the system) can be implemented this year, or no later than the first semester next year. From our country, the banks who can perform this method are BNI and Mandiri Bank, and from Malaysia, there is CIMB Bank.”
In addition to Thailand and Malaysia, Fili conveyed that Indonesia has conducted MoU signing with Singapore related to the payment. The archipelago, and in cooperation with the Monetary Authority of Singapore (MAS), target to launch this cross-country QRIS in Semester II 2023.
In its implementation, Fili did not mention the cost that will be charged in every transaction for this payment method, yet she affirmed that the nominal would be much lower than using a debit card or credit card.
