Bank Indonesia to Standardize QR Code Payment

Quick Response Code (QR Code) is increasingly being used as one of the digital payment methods in Indonesia besides EDC (Electronic Data Capture). QR Code is a method of transaction which involves scanning through a device or other infrastructure owned by the buyer or the merchant. In Indonesia, several companies engaged in payments system services and providers of electronic wallets use the QR Code method. In view of this, Bank Indonesia (BI) plans to issue a regulation related to standardization of QR Code payment in the country. The Head of Payment System Policy department of Bank Indonesia, Onny Widjanarko, announced that the regulation will be issued this year.