Indonesia, Thailand implement cross-border QR payment

Illustrative image (Source: internationalfinance.com)

Jakarta (VNA) – Bank Indonesia (BI) together with the Bank of Thailand (BoT) on August 29 inaugurated the implementation of a cross-border QR Code-based payment linkage between the two countries.

BI Governor Perry Warjiyo said, through this initiative, the people of Indonesia and Thailand can use the Thai QR Codes payment application and Quick Response Code Indonesian Standard (QRIS) in making payment transactions with merchants.

The system also supports tourism and micro-, small and medium-sized enterprises (MSMEs), he said, noting that this is an effort to encourage the digitisation of cross-border payments.

In May 2022, leaders from the central banks of Indonesia, Thailand, Malaysia, Singapore and the Philippines reiterated their commitments to connecting the payment system./.

VNA