Indonesia inbound digital payment surge to $345M via cross-border QR

Jakarta (ANTARA) - Bank Indonesia recorded 17.8 million inbound cross-border digital transactions totaling Rp6.2 trillion ($345.7 million) through August 2026, driven by an expanding regional payment network linking six partner nations.

Speaking at the joint FEKDI x IFSE 2026 digital finance forum on Saturday, Bank Indonesia Deputy Governor Filianingsih Hendarta attributed the growth to expanding adoption of the Quick Response Code Indonesian Standard (QRIS) among visitors from Singapore, Thailand, Malaysia, Japan, South Korea, and China.

"We are seeing a net inbound trend, meaning we receive a substantial amount of payments from tourists visiting Indonesia — much more than what Indonesians spend when visiting those partner countries," Hendarta said.

By comparison, outbound cross-border transactions totaled 5 million, valued at Rp1.85 trillion ($103.1 million). The volume puts inbound spending at more than triple the amount spent by Indonesian travelers abroad.

Launched in 2022, the cross-border QRIS framework allows foreign visitors to pay local merchants directly by scanning a unified QR code using their home country's mobile banking applications.

The central bank continues to widen its regional footprint, having recently signed agreements to establish payment links with Hong Kong and Timor-Leste.

Beyond streamlining payments for travelers, Hendarta emphasized that the integrated payment network serves as a catalyst for regional trade, tourism, and financial inclusion for micro, small, and medium enterprises (MSMEs).

"Ultimately, our goal is not merely to establish connections, but to create added value from those connections," Hendarta said. "We must view payment connectivity as an integral part of broader economic connectivity."

Indonesia’s domestic QRIS network currently reaches 69.3 million users and nearly 46 million registered merchants, approximately 69 percent of which are MSMEs.

Translator: Fitra Ashari, Uyu Liman
Editor: Aditya Eko Sigit Wicaksono
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