Bank Indonesia announces the implementation of the QRIS payment system in Singapore, facilitating cashless transactions for Indonesian nationals.

Governor of Bank Indonesia Perry Warjiyo declares QRIS operational in Singapore, marking a significant step in cross-border digital payment integration.

The QRIS initiative extends beyond Malaysia and Thailand, with plans to include China, South Korea, Japan, and India.

The push for QRIS aims to support economic growth and the ongoing digitalization of the payment system.

Active diplomacy has advanced the expansion of QRIS with China and South Korea, with hopes for tangible results by 2024.

BI has collaborated with Japan’s METI to integrate QRIS with Japan’s JPQR for cross-border digital payments.

Read More: QRIS Payment System Set to Facilitate Cross-Border Shopping in Singapore from November 17th

The use of QRIS is increasing among Malaysian and Thai tourists in Indonesia, highlighting its growing acceptance in business and tourist destinations.

The introduction of QRIS in Singapore simplifies shopping for Indonesians abroad and represents progress for Singaporean retailers and international visitors in the region.

QRIS activation in Singapore offers a new, secure, and convenient payment option for Indonesians, reflecting the region’s commitment to digital payment solutions.

Source: CNBN Indonesia, Intronesia (2023)