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Bank Indonesia to Enhance QRIS with New Features

Bank Indonesia (BI) is set to enhance its QRIS service in order to provide improved services to the public. The new features, scheduled to be launched in August 2023, will expand the functionality of QRIS beyond payments.

According to BI Deputy Governor Filianingsih Hendarta, these features will include cash withdrawals, transfers, and cash deposits, collectively known as QRIS Tuntas. This development is seen as a gift to commemorate Indonesia’s independence anniversary.

BI has been piloting the QRIS Tuntas feature since 2021, and currently, 16 participants are prepared to offer these services. The addition of these features is expected to bring several benefits to enhance the quality of digital payment systems. Firstly, it will optimize the use of funds, allowing for seamless transfers from deposits to electronic money. Secondly, it aims to increase interconnection between banks, non-banks, and combinations of the two.

Read Also : QRIS User in East Java Reaches 4 Million People

One of the most significant advantages of QRIS Tuntas is its potential for inclusion. The feature enables cash withdrawals in remote areas without the need for ATMs or banks. As long as there is a QRIS merchant, individuals in the farthest corners of Indonesia can access their funds conveniently. (https://goldchannel.net/) This aspect is particularly crucial for promoting financial inclusivity across the country.

As of May 2023, the number of QRIS users has reached 35.80 million, while the number of merchants stands at 26.1 million. Moreover, the total transaction volume has reached an impressive 744 million. These figures highlight the increasing popularity and adoption of the QRIS service in Indonesia, indicating a positive response from the public and the business community alike.

With the upcoming launch of QRIS Tuntas and its extended features, Bank Indonesia aims to further revolutionize the digital payment landscape. By enabling cash withdrawals, transfers, and deposits through QRIS, the service becomes more comprehensive and convenient for users. This development reinforces the country’s commitment to advancing financial technology and promoting financial inclusion, ultimately benefiting the Indonesian economy as a whole.

Source : Tribunnews

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