The transformation of the global digital financial sector continues to bring new breakthroughs. This time, Bank Indonesia(BI) has officially launched the implementation of QRIS cross-border between Indonesia and South Korea through the Joint Vision Statement (JVS) between Prabowo Subianto and Lee Jae Myung, which was officially signed on April 1, 2026, in South Korea.
This step is not merely a technological innovation, but also part of a broader effort to strengthen global payment system connectivity that is faster, easier, more affordable, secure, and reliable. In other words, cross-border transactions can now be as simple as scanning a QR code at a small shop.
At its launch, BI Governor Perry Warjiyo described this initiative as a historic moment for both countries. According to him, cross-border QRIS is expected to become the backbone of digital economic connectivity between Indonesia and South Korea.
Now, Indonesians traveling to South Korea can make payments directly using digital wallet applications or other digital banking services that are already connected to QRIS. There is no need to exchange cash, no need for international cards just scan, pay, and it’s done.
The same applies in reverse: South Korean tourists can use their domestic QR systems to transact in Indonesia.
Before South Korea, QRIS cross-border had already been connected with several countries such as Thailand, Malaysia, and Singapore, which began development on August 17, 2021. Meanwhile, Japan has already enabled inbound access, allowing users from Japan to transact in Indonesia using QR codes.
Interestingly, this implementation is not merely a concept. Data from BI shows:
● 5.9 million inbound transactions by foreign tourists in Indonesia
● 1.7 million outbound transactions by Indonesians abroad
These figures prove that cross-border QRIS is not just an innovation, but has become a real necessity.
BI Deputy Governor Filianingsih Hendarta explained that the development of cross-border QRIS is part of the Indonesia Payment System Blueprint (BSPI) 2030.
This blueprint emphasizes two main aspects:
● Innovation, which aims to improve efficiency and financial inclusion through technology
● Internationalization, which focuses on building global payment connectivity without compromising system sovereignty
From this, we can see that QRIS is not only developing domestically, but is also positioned as a global player in the digital payment ecosystem.
Beyond transaction convenience, cross-border QRIS also opens broader economic opportunities.
Some of the impacts that are already visible include:
● MSMEs Moving Up the Value Chain
QRIS has been used by more than 30 million merchants in Indonesia, with around 90% of them being MSMEs (Bank Indonesia, 2025). With cross-border connectivity, MSMEs now have the opportunity to directly accept payments from foreign tourists without requiring international EDC machines or additional systems. This lowers the barrier to entry for MSMEs to enter the global ecosystem.
● Seamless Tourism Experience
Tourism mobility between Indonesia and South Korea continues to show a positive trend. Data from the Korea Tourism Organization shows that Indonesian tourist visits to South Korea exceeded 200,000 in 2023 and continue to increase.
With cross-border QRIS, tourists no longer need to exchange cash. Payments can be made directly through domestic applications, making the experience more practical and efficient, especially in cities like Seoul which are highly digital.
● Transaction Cost Efficiency
Based on a report by the World Bank (2024), the average global remittance cost remains around 6.2%, far above the 3% target set by the Sustainable Development Goals (SDGs).
QR-based cross-border payment models like QRIS are designed to reduce these costs through direct settlement schemes and the use of local currencies (local currency settlement), making them more efficient compared to conventional methods such as credit cards or international transfers.
● Lifestyle and Cultural Integration
The Korean Wave phenomenon continues to drive increased economic interaction and cross-border consumption. Data from the Korea Tourism Organization shows that culture-based tourism (dramas, K-pop, culinary experiences) is one of the main drivers of foreign tourist visits to South Korea.
On the other hand, the growing number of Korean restaurants and products in Indonesia reflects the increasing integration of lifestyles between the two countries. The presence of cross-border QRIS strengthens this trend by providing a payment system that aligns with digital consumer behavior.
BI’s Deputy Governor, also highlighted that this connectivity reflects the increasingly close economic and cultural relationship between Indonesia and South Korea.
The success of cross-border QRIS is supported by strong domestic adoption that continues to grow significantly. Based on the latest data from Bank Indonesia as of 2025:
● More than 55 million QRIS users
● More than 32 million merchants, with around 90% being MSMEs
● Annual QRIS transaction value exceeding IDR 300 trillion, with continued strong growth
With this scale, QRIS has a strong foundation to develop into a competitive cross-border payment system.
Senior Deputy Governor of Bank of Korea, Sangdai Ryoo, emphasized that this cooperation is the result of close collaboration since 2024 between the Bank of Korea and Bank Indonesia.
This implementation allows people in both countries to carry out daily transactions more easily, while also reducing the need for currency exchange.
Meanwhile, Deputy Head of Mission to Indonesia, Park Soo-deok, described the launch as a tangible symbol of the increasingly strong digital economic partnership, especially as it coincided with the state visit of President Prabowo Subianto to South Korea.
Going forward, Bank Indonesia will accelerate the development of cross-border QRIS through several strategic steps:
● Expanding merchant acceptance at key locations such as international airports, tourist destinations, shopping centers, and areas with high tourist activity
● Promoting education and digital literacy campaigns to increase public understanding and trust in QR-based cross-border payments
● Strengthening collaboration with industry players and global partners to ensure system reliability, security, and responsiveness to evolving needs
With this integrated approach, cross-border QRIS is not only positioned as an alternative payment method, but is also directed to become the default payment behavior for Indonesians when transacting abroad—creating a seamless, efficient, and borderless payment experience.
QRIS is no longer just a domestic payment tool. It has evolved into a bridge for cross-border digital economic connectivity.
With QRIS now available in South Korea, one thing is clear:
the future of cross-border transactions is no longer complicated.
