CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: DR. KHALID MUBARAK AL-SHAFI

World / Asia

Indonesia's QRIS transactions surge nearly 170 pct

Published: 23 Apr 2025 - 07:39 pm | Last Updated: 23 Apr 2025 - 07:54 pm
This aerial picture shows an under construction building among skyscrapers in Jakarta's business district on April 14, 2025. (Photo by BAY ISMOYO / AFP)

This aerial picture shows an under construction building among skyscrapers in Jakarta's business district on April 14, 2025. (Photo by BAY ISMOYO / AFP)

Xinhua

Jakarta: Indonesia has recorded a robust year-on-year increase of nearly 170 percent in transactions using the Quick Response Code Indonesian Standard (QRIS), the central bank Bank Indonesia reported on Wednesday.

"Digital payment transactions through the QRIS continue to grow by 169.1 percent year-on-year, supported by rising numbers of users and merchants," central banker Perry Warjiyo said here at a press conference.

He noted that the surge in QRIS transactions aligns with the growth of digital economy transactions in Southeast Asia's largest economy.

"Digital payment transactions via mobile internet applications in the first quarter of 2025 reached 10.76 billion, marking a 33.5 percent year-on-year increase," he said.

On the same occasion, Deputy Governor Filianingsih Hendarta noted that QRIS users in the first quarter of 2025 had reached 56.3 million, with transaction volume hitting 2.6 billion.

"The total value of QRIS transactions reached 262.1 trillion rupiah (15.5 billion U.S. dollars), with most merchants being micro, small, and medium enterprises," Hendarta said.

Bank Indonesia's report comes amid criticism from the Office of the U.S. Trade Representative (USTR), which has raised concerns over Indonesia's financial service system, including the QRIS.

The USTR argues that the system restricts the flexibility of foreign companies, including payment providers and US banks.