QRIS (Quick Response Code Indonesian Standard) is a digital payment system based on QR codes standardized by Bank Indonesia (BI) to facilitate cashless transactions in Indonesia. Launched in August 2019, QRIS aims to unify various QR payment methods from banks and digital wallet providers into one national standard, making transactions more efficient, secure, and affordable.

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### 1. Definition and Purpose

QRIS was developed by BI together with the Indonesian Payment System Association (ASPI) to:

- Simplifying digital transactions with one QR code for all payment platforms.

- Encouraging financial inclusion by facilitating cashless transactions for MSMEs and the general public.

- Reducing dependence on physical money and strengthening Indonesia's digital payment ecosystem.

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### 2. Key Features

- One QR Code for All: Merchants only need to display one QR code that can be scanned by all payment applications (GoPay, OVO, DANA, LinkAja, banks, etc.).

- Merchant-Presented and Customer-Presented:

- Merchant-Presented: The QR code is displayed by the merchant (e.g., at the store cashier).

- Customer-Presented: The QR code is generated from the user's payment application (e.g., at toll parking).

- Cross-Bank/E-Wallet Transactions: Buyers and merchants do not need to use the same platform.

- Multi-Function: Can be used for merchant payments, donations, tax payments, or transfers to other users.

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### 3. How It Works

1. Merchants generate QRIS through partner applications (bank/e-wallet) or print it as a physical sticker.

2. The buyer opens the payment application, scans the QR code, and enters the transaction amount.

3. Payments are processed instantly through the BI network.

4. Funds are directly credited to the merchant's account.

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### 4. Benefits

- For Consumers:

- Practical, fast, and no need to carry cash.

- Safe from the risk of counterfeiting money.

- For Merchants:

- Lower transaction costs (averaging 0.3–0.7%) compared to credit/debit cards.

- No need to provide many QR codes from different providers.

- For the Economy:

- Expanding access to finance, especially in remote areas.

- Transactions are recorded digitally, reducing the shadow economy.

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### 5. Transaction Limits

- MSMEs (Without Merchant Code):

- Maximum IDR 5 million per transaction.

- Maximum IDR 10 million per day.

- Licensed Merchants (With Merchant Code):

- No transaction nominal limit.

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### 6. Recent Developments

- QRIS Cross-Country: Already usable in Thailand, Malaysia, Singapore, and several other ASEAN countries (2023).

- Mass Adoption: More than 38 million MSME merchants have used QRIS as of 2024.

- Integration with the Government: Used for paying taxes, BPJS, and public services.

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### 7. Challenges

- Internet Availability: Still a challenge in remote areas.

- User Education: Some merchants/users do not understand how to use it.

- Security: Risk of fraud through fake QR codes (Bank Indonesia urges only scanning official QR codes).

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### Conclusion

QRIS is an important breakthrough in accelerating digital transactions in Indonesia. With low costs, ease of access, and cross-platform support, this system has become the backbone of national cashless payments. For more information, visit the official [Bank Indonesia] website or the banking/e-wallet applications that support QRIS.$BTC $TKO #INNOVATION