Jakarta, The Indonesia Post – Bank Indonesia (BI) waives the Quick Response Code Indonesian Standard (QRIS) tariff for transactions below IDR 100,000.
BI Governor Perry Warjiyo said the policy was in the context of sharpening the payment system digitization strategy to expand digital economic and financial inclusion.
“Strengthening the QRIS Merchant Discount Rate (MDR) policy for the micro business segment (UMI) for transactions up to IDR 100,000 is subject to an MDR of 0 percent,” Perry said at a press conference on the Announcement of Monthly RDG Results for July 2023 in Jakarta, Tuesday.
Meanwhile, for transactions over IDR 100,000, BI sets the MDR rate at 0.3 percent.
The policy will become effective as soon as September 1, 2023 and no later than November 30, 2023, depending on industry readiness.
BI noted that QRIS transactions continued to grow, with the latest result being 104.64 percent year-on-year (yoy) in quarter II-2023. The nominal QRIS transactions reached IDR 49.65 trillion.
Up to now, there are 37 million QRIS users. Meanwhile, the number of merchants recorded was 26.7 million, most of which came from the micro, small and medium enterprise (MSMEs) group.
Bank Indonesia continues to encourage the acceleration of payment system digitization for financial economic inclusion. One of them is the acceleration of the use of QRIS through the expansion of the QRIS Complete (Withdrawal, Cash Deposit) feature and the expansion of QRIS between countries.
Then, BI also encourages the strengthening of QRIS through holding the National QRIS Week and the Indonesian Sovereign Rupiah Festival (FERBI) in the framework of the Republic of Indonesia’s Independence Celebration.
Apart from QRIS, BI also sees the performance of digital economic and financial transactions in Indonesia strengthening. The value of Electronic Money (EU) transactions in the second quarter of 2023 increased by 14.82 percent yoy to reach IDR 111.35 trillion. Meanwhile, the value of digital banking transactions was recorded at IDR 13,827 trillion or grew by 11.6 percent yoy. (mhn/bbs)
Comment