Indonesian shoppers who want to splurge on nasi kandar, decent teh tarik and more can now use the rupiah via QRIS (Quick Response Code Indonesian Standard) in Malaysia starting today, May 8.
QRIS is a payment system that allows users to scan a QR code using various e-wallet apps. The system was launched by Bank Indonesia (BI) in 2019 to facilitate cashless transactions.
According to BI Governor Perry Warjiyo, following a trial run that launched in January 2022, QRIS can now officially be used in Malaysia as part of the cross-border QR payment cooperation between BI and Bank Negara Malaysia (BNM).
The cooperation will enable QRIS users to make payments using rupiah in Malaysia, and vice versa, BNM’s DuitNow QR users can make payments using ringgit in Indonesia.
He added that the cooperation was a milestone for enhancing financial inclusion and connectivity between the two countries. He also said that it would benefit tourists, migrant workers, students, and businesses who travel or trade across the border.
Indonesia previously launched a cross-border QR payment cooperation with Thailand in August 2022, following a trial that ran from late 2021.
BI is reportedly developing and trialing similar programs with Singapore, the Philippines, and Japan.
