Bank Indonesia (BI) and the Bank of Korea have launched a new QR code payment system between the two countries. This means Indonesia’s QR Code Indonesian Standard (QRIS) can now be used in South Korea.
BI Governor Perry Warjiyo said this system lets people from both countries make payments easily without needing to exchange money, making transactions faster and cheaper.
“The cross-border QR code payment system not only facilitates trade but also strengthens MSMEs and tourism, opens new business opportunities, and promotes inclusive and sustainable economic growth,” Warjiyo said in a written statement received here.
The system was officially launched by Perry Warjiyo and Sandai Ryoo. The launch events were held at the same time in Jakarta and Seoul.
This initiative is part of a joint agreement signed on Wednesday by Prabowo Subianto and Lee Jae Myung during Prabowo’s visit to Seoul.
Warjiyo said this launch is an important step toward creating a payment system that is more connected, efficient, and easy for everyone to use, helping improve economic ties between the two countries.
“We are committed to encouraging more strategic cooperation to strengthen payment system integration and support digital economic connectivity between South Korea and Indonesia,” he said.
According to Bank Indonesia, the launch is a joint effort between both central banks, along with the Indonesian Payment System Association, Korea Financial Telecommunications & Clearings Institute, and other partners in the financial sector.
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