Jakarta, April 2, 2026 – The Europe Today: Bank Indonesia and Bank of Korea have officially launched a cross-border QR code-based payment system, enabling Indonesia’s QR Code Indonesian Standard (QRIS) to be used seamlessly in the South Korean market.
The initiative, unveiled on Wednesday, allows residents of both countries to conduct transactions without the need for currency exchange, significantly reducing costs and improving efficiency in cross-border payments.
Governor Perry Warjiyo emphasized that the system would not only streamline transactions but also enhance trade, empower micro, small, and medium enterprises (MSMEs), and support tourism growth. “The cross-border QR code payment system facilitates inclusive and sustainable economic growth while opening new business opportunities,” he said in a statement.
The system was jointly launched by Warjiyo and Sandai Ryoo, with parallel ceremonies held in Jakarta and Seoul.
The launch forms part of a broader Joint Vision Statement signed during Indonesian President Prabowo Subianto’s visit to South Korea, alongside President Lee Jae Myung. The agreement underscores both nations’ commitment to strengthening digital economic ties and financial integration.
Describing the initiative as a milestone, Warjiyo noted that it represents a shared ambition to build an integrated, efficient, and inclusive payment ecosystem that enhances economic connectivity between the two countries.
Meanwhile, Chang Cheong-soo highlighted that the system reflects a deepening of bilateral cooperation in the digital economy. He reaffirmed both countries’ commitment to advancing payment system integration and fostering digital connectivity.
According to Bank Indonesia, the rollout involves close collaboration with key stakeholders, including the Indonesian Payment System Association (ASPI) and the Korea Financial Telecommunications & Clearings Institute (KFTC).
As of February 2026, QRIS had reached 60.77 million users, reinforcing its position as a cornerstone of Indonesia’s digital payment transformation. The country has already expanded QRIS interoperability to several markets, including Thailand, Malaysia, Singapore, and Japan, with Malaysia recording the highest transaction volume at 10.6 million transactions worth Rp2.75 billion.
The cross-border QR payment system is expected to further accelerate regional financial integration, enhance consumer convenience, and strengthen economic cooperation between Indonesia and South Korea.
