QRIS Transactions Increase, Reaching a New Record at the End of 2022

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Adi Ahdiat 05/07/2023 15:00 WIB

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QRIS Transaction Trends Increase, Reaching a New Record in 2022

QRIS Transaction Volume and Value in Indonesia (January 2020-December 2022)

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QRIS Transaction Volume and Value in Indonesia (January 2020-December 2022)

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The Indonesian Standard QR Code (QRIS) is a digital payment facility provided by Bank Indonesia (BI).

This facility allows merchants and consumers to conduct cashless transactions by scanning a QR code using a smartphone.

According to data from the Indonesian Payment System Association (ASPI), in December 2022, there were approximately 128 million QRIS transactions throughout Indonesia, with a value reaching Rp 12.2 trillion.

This figure is a new record high, both in terms of transaction volume and nominal value.

In total, throughout 2022, the national volume of QRIS transactions reached 1 billion transactions, an increase of 117.59% compared to 2021.

The total value of QRIS transactions in 2022 reached Rp 99.98 trillion, growing by 261.81% compared to the previous year.

Starting in mid-2023, BI implemented a Merchant Discount Rate (MDR) of 0.3% for merchants using the QRIS service.

"The adjustment of the QRIS Merchant Discount Rate policy for micro-business merchants to 0.3 percent is effective from July 1, 2023," said BI Governor Perry Warjiyo in a press conference on Thursday, June 22, 2023.

BI's Executive Director of Communication Department, Erwin Haryono, stated that the MDR is a service fee charged to merchants by Payment Service Providers (PSPs). However, merchants are not allowed to pass this fee on to consumers.

"Are merchants allowed to charge the MDR fee to the public using QRIS? No," Erwin told CNNIndonesia.com on Tuesday, July 4, 2023.

Erwin stated that the imposition of this fee aims to improve the quality and sustainability of QRIS services, not for BI's profit.

"Bank Indonesia does not receive any portion of the revenue from the QRIS MDR," said Erwin.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."