The implementation of payments using cross-border currencies, according to President Jokowi, is very urgent. He hopes that this collaboration can soon be formalized in the form of implementing the G20 Road Map for Enhancing Cross-Border Payment.
Because it can make people’s lives easier, Jokowi emphasized that this policy must be immediately implemented throughout the world.
This was stated by Jokowi while giving a briefing at the Advancing Regional Payment Digital Connectivity seminar which is part of the series of the G20 Bali Summit which will be held on 15-16 November 2022.
“It is time for this cooperation to be formalized in regional payment connectivity as a concrete form of implementing the G20 Road Map for Enhancing Cross Border Payments,” Jokowi said, Monday (11/14/2022).
According to him, ASEAN has been one step ahead of other countries in implementing cross-border payment interconnection. Currently, Indonesia has connected the QR cross border with Thailand to Singapore.
“I support this regional payment connectivity initiative to continue to be expanded to the global level because the ease of access to payments will have a major impact on the economy, especially the trade tourism and MSMEs sector so that it will accelerate a stronger and inclusive economic recovery,” Jokowi said.
Jokowi said the digital economy transformation agenda in the financial sector was a shared priority. According to the head of state, this is one of the keys to a sustainable economy and is very beneficial for economic recovery so that it is stronger, inclusive, and collaborative.
“In Indonesia itself, to accelerate transformation, various payment system breakthrough steps have been taken, namely through the development of QRIS, Bi-Fast, and the team to accelerate the expansion of regional digitization to accelerate the digitization of government transactions,” he said.
At the end of last August, Bank Indonesia (BI) launched the QR code Indonesian Standard (QRIS) which can be used in 4 ASEAN countries. Namely Thailand, Malaysia, the Philippines, and Singapore. The launch was carried out by President Joko Widodo, who was accompanied by the Governor of BI, Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan, and Minister of Finance Sri Mulyani, Monday (29/8/2022).
BI Governor Perry Warjiyo said the use of QRIS can already be enjoyed in Thailand. So Indonesian citizens who are currently in Thailand can make transactions using QRIS which is the mobile banking application on their cell phones.
To do this, just point the scanner at QRIS to the barcode available at the merchant. Meanwhile, in Malaysia, transactions using the QR code are still at the trial stage. This step has been carried out since January.
Then in Singapore, it is still in the final stage of signing a collaboration between Bank Indonesia and Bank Singapore.
“We have tested Indonesian QR with Thai QR and starting today it is fully implemented,” Perry said in his official statement.