QRIS-Using MSMEs Increased by 316% During the COVID-19 Pandemic

Transactions using the *Indonesian Standard QR Code* (QRIS) increased dramatically during the Covid-19 pandemic. Bank Indonesia recorded that, as of December 30, 2020, QRIS was connected to approximately 5.8 million national retail merchants. This figure represents an 88% increase from March 22, 2020, when there were 3.1 million merchants.

The majority of merchants are MSMEs, comprising 3.6 million micro businesses and 1.3 million small businesses. The highest increase in QRIS usage was among small businesses, at 316% from 304,400 on March 22, 2020.

Other QRIS merchant users include 310,700 large businesses, 558,500 medium businesses, and 14,700 donation/social organizations. BI stated that QRIS accelerates the digitalization of MSMEs, thus supporting national economic and financial inclusion, including the availability of MSME data, which has been a constraint in MSME development.