QRIS Transactions Soar 207.55 Pct As More People Go Cashless
Jakarta. Bank Indonesia recently reported that transactions made by the national QR payment code -- popularly known as QRIS -- had soared 207.55 percent year-on-year (yoy) in July.
The central bank has been promoting the use of the Quick Response Indonesian Standard (QRIS). As more Indonesians go cashless, QRIS transactions have seen a drastic rise. QRIS also now has 51.43 million users. As many as 33.21 million merchants are also using QRIS to accept payment for their businesses.
Electronic money transactions also rose 22.61 percent yoy to almost 1.3 billion transactions last month.
“Digital economy and finances remained robust in July thanks to a secure, smooth, and reliable payment system,” Bank Indonesia’s governor Perry Warjiyo said in Jakarta on Wednesday.
Bank Indonesia's Real-Time Gross Settlement (BI-RTGS) transactions jumped 15.36 percent yoy, reaching Rp 15,450 trillion (around $990 billion) in July. BI-RTGS serves large interbank transfers.
BI-FAST, which facilitates retail payments in real-time, reported a 65.08 percent increase in transaction volume, reaching 301.41 million transactions.
Indonesia also saw around 1.8 billion digital banking transactions, up by 30.5 percent yoy.
ATM/D card transactions went down 9.67 percent yoy to 584.95 million transactions over the same period.
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