ASIATODAY.ID, JAKARTA — Indonesia is accelerating its push to become a major player in Asia’s digital economy by expanding its QR payment ecosystem, QRIS, to new international markets including Saudi Arabia, India and Hong Kong.
Bank Indonesia (BI) is currently advancing discussions with authorities and payment industry stakeholders in the three markets to establish cross-border QR payment interoperability, enabling consumers to make seamless digital transactions overseas using their domestic banking applications and e-wallets.
The expansion marks a new phase in Indonesia’s digital payment transformation, as QRIS evolves from a national payment standard into a regional connectivity platform linking businesses, travelers and consumers across borders.
Deputy Governor of Bank Indonesia Filianingsih Hendarta said discussions with India, Saudi Arabia and Hong Kong are ongoing as Indonesia seeks to broaden QRIS partnerships globally.
“We continue discussions with India for cross-border QR payments. We have also started deeper discussions with Saudi Arabia and Hong Kong,” Filianingsih said.
She highlighted that cross-border payment integration requires strong coordination between countries, including regulatory alignment, payment infrastructure readiness and participation from financial industries.
From National QR Standard to Regional Digital Infrastructure
Since its launch in 2019, QRIS has become Indonesia’s unified QR payment standard, connecting various banking services and digital wallets into a single payment ecosystem.
Bank Indonesia recorded around 62 million QRIS users and more than 44 million merchants, with most participants coming from micro, small and medium enterprises (MSMEs).
The growth of QRIS reflects Indonesia’s rapid shift toward digital transactions while expanding financial inclusion for millions of small businesses across the country.
Currently, QRIS cross-border services are already connected with several international partners, including Singapore, Malaysia, Thailand, Japan, South Korea and China.
Through these connections, Indonesian travelers can make payments abroad using local payment applications without relying on cash exchange or international payment cards. Meanwhile, foreign visitors can use their domestic payment platforms to transact at QRIS-enabled merchants throughout Indonesia.
Strengthening Asia’s Digital Economy Linkages
The expansion into Saudi Arabia, India and Hong Kong carries strategic economic significance.
Saudi Arabia is a major destination for Indonesian travelers, including religious tourism, while India and Hong Kong serve as important economic, trade and financial centers in Asia.
Bank Indonesia expects broader QRIS connectivity to support tourism growth, increase cross-border transactions and provide greater market access for Indonesian MSMEs.
The central bank also views digital payment integration as part of a wider regional effort to create a more connected Asian economy, where consumers and businesses can transact faster, cheaper and more efficiently.
As competition in the global digital economy intensifies, Indonesia is positioning QRIS not only as a domestic payment innovation but also as a potential bridge connecting Asia’s emerging digital financial ecosystem. (AT Network)
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