"QRIS is used in all places across the country, including in Islamic boarding schools. It is mostly used by MSMEs," Warjiyo remarked at the 6th Annual Islamic Finance Conference monitored online here on Wednesday.
According to the central bank governor, the number of QRIS users would continue to increase.
QRIS is a standardization of payments using the QR Code method from BI, so that the transaction process with QR Code becomes easier, faster, and safer.
Warjiyo said QRIS expansion should be conducted as part of digitization of the payment system by the central bank.
In addition to QRIS, BI has developed BI-FAST, a retail payment system needed by MSMEs to increase cash flow through BI's real time payment, with efficient services offered round the clock.
Customers will be able to make interbank money transfers of up to Rp250 million per transaction (some US$17,000), with a charge of only Rp2,500 (some US$0.17) per transaction.
"With this fast payment, MSMEs' cash flow will move faster, and the waiting time to get buyers' money is far shorter," he elaborated.
BI also offers other forms of digitization in the payment system through digital banking, financial technology (fintech), e-commerce, electronification of social program, and other forms of digitization, Warjiyo stated.
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Translator: Agatha Olivia Victoria, Sri Haryati
Editor: Rahmad Nasution
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