The Quick Response Code Indonesia (QRIS) has become increasingly popular in the Riau Islands province, reaching a transaction value of IDR 1 trillion between 2019 and June 2023.

The Riau Islands, especially Batam, has experienced remarkable growth in digital payments. Since its launch, QRIS has experienced tremendous adoption, benefiting especially the micro-business sector.

As of June 2023, there are 344,000 QRIS users in the province, with an addition of 81,000 new users in 2023 alone.

Digital payment systems, according to BI Riau representative Suryono, are the key to sustainable and inclusive economic growth, more so during the COVID-19 pandemic.

In an effort to support micro-businesses, QRIS transactions below IDR 100,000 have been exempted from fees, considering the majority of QRIS transactions come from the UMKM (Micro, Small, and Medium Enterprises) sector.

The latest feature of QRIS, named “QRIS TUNTAS”, which translates to “QRIS Cash Withdrawal, Transfer, and Deposit”, has been introduced and aims to facilitate cash withdrawals, transfers, and deposits.

Bank Indonesia has begun cross-border QRIS testing with Singapore, indicating potential future financial collaborations between the two nations.

The initiation of cross-border QRIS testing between Indonesia and Singapore signifies a promising future for seamless financial transactions for both Singaporeans and international visitors in the Riau Islands. This collaboration could potentially pave the way for stronger economic ties and enhanced travel experiences in the region.

Riau Islands’ adoption of the QRIS payment system has seen an impressive surge, reaching IDR 1 trillion in transactions. With the introduction of new features and the commencement of cross-border testing with Singapore, the digital payment landscape in the region is set to become more integrated and user-friendly.

Source: GoKepri (2023)