BI Mentions 12 Companies Got QR Code Permit

Bank Indonesia (BI) says there are 12 companies that get permission related to QR Code as payment system. However, it has not been standardized by the government. Head of Policy Department of Payment System of BI, Onny Wijanarko, said QR Code that applied now is still have their own standardization.

The companies that already get the payment permit with QP Code, such as; BRI Bank, Go-Pay, and BNI. "We already get a lot of QR code. QR Code is not prohibited, now there are 12 companies, Go-Pay, BRI, and a lot of companies can get it.

BI itself will release the rules soon. Onny said, BI is still designing the standardization of QR Code along with the Association of Payment System Indonesia (ASPI). "So QR Code is not made the standard from zero, but based on the specification of international expert. The role of ASPI represents us joining with the working group, to set the QR Code specification that later BI will set as national standard," he explained.

Onnly also said, after setting the standardization, the implementation will be run limited or the pilot project for 6-9 days. "So Indonesia is willing to make it like other countries, China want will, Thailand has made, Singapore has made from December 2017, but now still applies limited," he said.

The Limitation of QR Code Transaction

Onny said, the number of transactions using QR Code will be limited later. The number is predicted not much different from that applied by other countries. "We still think that in other country (the transaction) is Rp 1.750 million, so that’s about it, because it’s a retail transaction, so it should be limited too, how much is the maximum transaction, the rule will be enacted in October," he explained.

If the transaction using QR Code is fully implemented, BI appeals to all companies to prioritize this payment system to small scale traders. BI also said that the use of QR Code does not erode the existence of electronic data capture (EDC).

"We exactly will control, because QR code is using for small transactions, just like emoney, and EDC can be used for debit and credit card. So all of them go together. The trend in Indonesia, I can not say it stagnant, (but) the share will be equally increased, perhaps alternatively increase in methods will go up, which the conventional method will rise too, but not high," he concluded.

Source: Antara

Disclaimer: This article is a summary of news articles obtained from a number of mass media. We are not responsible for the accuracy of data or sources of information presented by the mass media that became the reference.

SMART Legal Consulting is an Indonesian Legal Process Outsourcing provider. SMART has assisted Clients in establishing Foreign Direct Company and Representative Office more than 250 entities with 100% success rate. We also assisted local and multinational companies in handling their corporate legal matters, including providing legal retainer services for day to day business operations.

Contact Us Now to get your legal solution for your business goals.
Email :
Hotline/Whatsapp : +62821-1234-1235
Office : +6221-80674920

Leave a Comment

%d bloggers like this: