QRIS Merchants in Jakarta are Mostly Micro Businesses

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Adi Ahdiat 31/10/2022 18:30 WIB

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According to a Bank Indonesia (BI) report, 38% of QRIS merchants in the capital city are micro businesses.

QRIS Merchant Proportion in DKI Jakarta by Business Type (Q2 2022)

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QRIS Merchant Proportion in DKI Jakarta by Business Type (Q2 2022)

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According to a Bank Indonesia (BI) report, in the second quarter of 2022, there were approximately 3.69 million merchants in DKI Jakarta that processed transactions via the QR Code Indonesian Standard (QRIS).

This number has increased approximately fivefold compared to the beginning of the pandemic. In the first quarter of 2022, there were only around 672,000 QRIS merchants in the capital city.

In the second quarter of 2022, QRIS merchants in DKI Jakarta were dominated by micro businesses, accounting for 38%. Then, 31% were classified as small businesses, 21% as medium businesses, 7% as large businesses, and 3% as regular businesses.

"The highest increase in the number of QRIS merchants was among medium-sized businesses, with an increase of 133,490. This indicates a growing interest among business actors in utilizing QRIS as a cashless payment method," BI stated in its report.

BI stated that QRIS offers many benefits to merchants, such as reducing the risk of cash theft/loss, reducing the risk of counterfeit money payments, and automatically recording all transactions.

BI also mentioned that QRIS can help merchants build credit profiles, thus increasing their chances of obtaining working capital from banks.

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."