Implications for Businesses in APEC and Thailand

Indonesia aims to expand QRIS interoperability across APEC, boosting cross-border digital payments, regional commerce, with rapid adoption domestically and in neighboring countries like Malaysia, Singapore, and Thailand.

Key Points

• Expansion of QRIS across APEC: Indonesia is pushing its Quick Response Code Indonesian Standard (QRIS) to be interoperable across Asia-Pacific Economic Cooperation (APEC) nations. The goal is to strengthen cross-border digital payments and regional trade.
• Economic significance: APEC economies account for about 70% of Indonesia’s exports, including major partners like China, Japan, the U.S., and South Korea.
• Domestic adoption: Since its launch in 2019, QRIS has grown rapidly. By mid‑2025, it was used by around 39.3 million merchants and 57 million users, showing strong acceptance in retail and consumer payments.

Indonesia Expands QRIS Interoperability in APEC

Indonesia is advancing its QRIS (Quick Response Code Indonesian Standard) initiative to foster interoperability across Asia-Pacific Economic Cooperation (APEC) nations. This move aims to bolster cross-border digital payments and enhance regional trade, aligning with Indonesia’s economic ties to APEC economies, which comprise around 70% of its exports, including China, Japan, the U.S., and South Korea.

Key Opportunities for Thai Businesses

• Tourism & Retail: With QRIS already interoperable in Thailand, merchants can seamlessly accept payments from Indonesian visitors. This reduces reliance on cash and foreign card networks, boosting convenience and sales.
• Cross‑border Trade: Thai exporters and SMEs gain easier payment settlement with Indonesian partners, lowering transaction costs and speeding up cash flow.
• Regional Integration: As QRIS expands across APEC, Thai firms positioned early can benefit from smoother transactions with other economies like Malaysia and Singapore, strengthening regional competitiveness.

Rapid Growth of QRIS in Indonesia

Since its launch by Bank Indonesia in 2019, QRIS has become one of Southeast Asia’s leading QR-based payment systems. By mid-2025, it supported roughly 39.3 million merchants and around 57 million users, reflecting its widespread acceptance in the country’s retail sector. The system’s expansion indicates significant adoption of mobile payments across Indonesian businesses and consumers.

Increasing Cross-Border Payment Activity

Transaction volumes mirror the system’s growing popularity, with Bank Indonesia reporting 6.05 billion QRIS transactions valued at IDR 579 trillion (US$37 billion) in the first half of 2025. Early cross-border activity is promising, with Indonesia’s neighboring countries—Malaysia, Singapore, and Thailand—recording transactions worth approximately IDR 1.66 trillion (US$105 million), demonstrating regional integration of QR payments.

Read the original article : Indonesia’s QRIS Expansion Across APEC and What It Means for Businesses

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