Bank Indonesia (BI) Governor Perry Warjiyo revealed that Quick Response Code Indonesian Standard (QRIS) transactions or QR code payments grew significantly, reaching 226.54% year on year (yoy) in June 2024.
“QRIS transactions grew 226.54% yoy with users reaching 50.50 million,” he said at a press conference for the BI Board of Governors (RDG) Meeting at the BI Office, Jakarta, Wednesday (17/7).
The number of merchants or stores selling their products/services offline and online reached 32.71 million in June. This number has increased compared to May with 32.25 million merchants.
Perry then said that in general, digital banking transactions in Indonesia were recorded at 5,363 million transactions or grew by 34.49% yoy. Electronic money (EU) transactions also rose 39.24% yoy with 3,958.53 million transactions.
From the retail side, BI-Fast transaction volume grew positively by 67.79% yoy to reach 785.95 million transactions. However, payment transactions using automated teller machine (ATM) cards in June 2024 fell by 8.42% yoy to 1,759.92 million transactions.
On the same occasion, Deputy Governor of Bank Indonesia (BI) Filianingsih Hendarta added that there is an increasing trend in QRIS transactions between countries or cross-border payments. Currently, QRIS between countries can be used in Thailand, Malaysia, Singapore, and other countries.
Also read: MSMEs are comfortable using QRIS because it makes transactions easier
In June, BI noted that QRIS transactions from Thai people or tourists in Indonesia increased by 13% compared to last May or month to month (MTM). With the largest transaction volume in the DKI Jakarta and West Java areas. “I’m talking regarding inbound or from foreign tourists to Indonesia using QRIS,” he added.
Then, the increase in QRIS transactions of Singaporeans in Indonesia jumped 28% MTM with the largest transaction volume in DKI Jakarta and Riau. For QRIS transactions of Malaysians in the country also increased 8% MTM with the largest transaction locations in DKI Jakarta and West Java.
BI noted that QRIS transactions of Indonesians in Thailand in June 2024 also grew by 9% MTM in Malaysia, up 4% MTM, and Singapore saw a 12% MTM decline. Filianingsih said that the Indonesian government would increase cooperation in the use of QRIS with other countries, namely South Korea, India, Japan, and the United Arab Emirates (UAE). (Z-2)
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