QRIS

To navigate through the Ribbon, use standard browser navigation keys. To skip between groups, use Ctrl+LEFT or Ctrl+RIGHT. To jump to the first Ribbon tab use Ctrl+[. To jump to the last selected command use Ctrl+]. To activate a command, use Enter. Follow "Follow this site and get back to it easily from your sites page.") In general, QR Code is a type of two-dimensional barcode made up of three black squares arranged in a square grid around the bottom left, top left and top right corners of the barcode, and a module consisting of pixels, which can store alphanumeric data, characters and symbols, used to facilitate contactless payment transactions through scanning technology. The Quick Response Code Indonesian Standard, usually abbreviated to QRIS, is a standardised QR Code that Bank Indonesia has approved for payments in Indonesia. The salient difference between QRIS and the QR codes currently used by the industry is that all payment transactions can be facilitated by one QR code, namely QRIS, even when using different payment instruments. This is possible because each application of the respective payment instrument Issuer can scan and read QRIS in the QR code at any participating merchant. QRIS accommodates two QR code usage models, namely Merchant Presented Mode (MPM) and Customer Presented Mode (CPM). Nevertheless, the models are implemented in reference to the QRIS standards set by Bank Indonesia as the national standard​. Payment system service providers and switching institutions engaged in processing QRIS transactions are required to first obtain approval from Bank Indonesia. QRIS transactions use funding sources in the form of deposits and/or payment instruments such as debit cards, credit cards and/or server-based electronic money. The use of funding sources and/or payment instruments is based on a proposal submitted by a Standard Setting Institution approved by Bank Indonesia.​ QRIS transactions are restricted to a maximum value of Rp10 million per transaction. Furthermore, Issuers can enforce daily and/or monthly cumulative limits on QRIS transactions by user based on the risk management of the Issuer. The main regulation concerning QRIS implementation is Board of Governors Regulation (PADG) No. 21/18/PADG/2019 concerning National Implementation Standards of Quick Response Code for Payments. In addition, for specific provisions concerning which payment instruments can be used in QRIS transactions, Bank Indonesia also issued a regulation concerning card-based payment instruments and electronic money. In relation to the processing of QRIS transactions, refer to BI regulations concerning the processing of payment transactions (PTP), electronic money and the National Payment Gateway (NPG). The Board of Governors Regulation on QRIS became effective upon enactment on 16th August 2019. Any party already using QR code prior to the enactment is required to adjust the usage model to QRIS no later than 31st December 2019. The schemes and costs of processing QRIS transactions are determined by Bank Indonesia through a Deputy Governor Decree. For the end user, the main benefits include greater flexibility when seeking alternative sources of funds and/or payment instruments that can be used to make payments at merchants. For the merchant, QRIS is more practical because only one standardised QR code is required in order to accept payments from various different sources of funds and/or payment instruments. For the industry as a whole, QRIS supports interconnectedness and interoperability, thus minimising fragmentation and enhancing efficiency.​ Usage Models QRIS accommodates two QR code usage models, namely Merchant Presented Mode (MPM) and Customer Presented Mode (CPM). Nevertheless, the models are implemented in reference to the QRIS standards set by Bank Indonesia as the national standard. Payment system service providers and switching institutions engaged in processing QRIS transactions are required to first obt