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.

WHOOP has raised $575 million in fresh funding at a $10.1 billion valuation, as it accelerates its ambition to build a global platform for personalised, preventative healthcare powered by artificial intelligence and biometric data.

The Series G round was led by Collaborative Fund and drew participation from a broad mix of institutional investors, sovereign wealth funds and healthcare leaders, including Qatar Investment Authority and Mubadala Investment Company. Strategic backing also came from Abbott and Mayo Clinic, highlighting growing convergence between technology and traditional healthcare systems.

The round also attracted high-profile individual investors from the worlds of sport and entertainment, including Cristiano Ronaldo, LeBron James and Rory McIlroy, reflecting WHOOP’s strong association with elite performance and wellness.

The investment comes at a time when healthcare systems globally are under increasing strain from rising rates of chronic disease and ageing populations. WHOOP is positioning itself at the forefront of a shift from reactive treatment to preventative, data-driven health management.

Founder and chief executive Will Ahmed said the company is building a platform designed to help individuals monitor, understand and improve their health continuously.

“We are creating a personal health system that enables people to improve both their performance and long-term wellbeing,” he said.

At the core of the platform is continuous biometric monitoring, combined with AI models trained on more than 24 billion hours of physiological data. This allows WHOOP to deliver personalised insights into sleep, recovery, stress and physical performance, as well as early indicators of potential health risks.

WHOOP has experienced strong growth in recent years, with more than 2.5 million members globally and bookings rising 103 per cent in 2025 to reach a $1.1 billion run rate. The company also reported positive operating cash flow during the year, underlining its financial momentum.

The new funding will support further expansion across key international markets, including Europe, the Gulf region, Latin America and Asia, as well as continued growth in the United States.

To support this expansion, WHOOP plans to hire more than 600 additional employees globally, focusing on research, development and product innovation.

The involvement of established healthcare organisations such as Abbott signals a broader shift towards integrating consumer technology with clinical expertise.

By combining wearable technology with advanced analytics, WHOOP aims to provide a more holistic view of health, enabling users to make informed decisions about their lifestyle and potentially prevent serious conditions before they develop.

The platform’s high engagement levels, with users opening the app multiple times per day, highlight the growing demand for real-time health insights that go beyond traditional fitness tracking.

While WHOOP initially gained traction among athletes and high-performance individuals, the company is now targeting a broader audience, including executives, professionals and consumers seeking to optimise both health and productivity.

The focus is increasingly on “healthspan”, the length of time individuals remain healthy and active, rather than simply lifespan.

Cristiano Ronaldo, an investor and ambassador, described the platform as a key tool in managing his own health, reflecting its positioning at the intersection of performance and wellbeing.

The latest funding round reinforces WHOOP’s position as one of the most valuable players in the rapidly expanding digital health sector.

As advances in AI and data analytics continue to reshape healthcare, companies that can combine technology, user engagement and clinical relevance are expected to play a central role in the future of the industry.

For WHOOP, the challenge now is to scale its platform globally while maintaining accuracy, trust and regulatory compliance, transforming wearable data into meaningful, actionable health outcomes at scale.

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

More than four million children have been enrolled in newly created Trump Accounts, the Internal Revenue Service (IRS) said Tuesday, marking a major rollout of the administration’s savings initiative.

Additionally, the IRS said more than one million children are covered by elections for the $1,000 Trump Accounts pilot program contribution.

Trump Accounts were created under the “One Big Beautiful Bill Act” last year, and contributions can begin July 4, 2026.

“The IRS has been working closely with the Treasury Department to make the election process as simple and easy as possible by permitting taxpayers to fill out a one-page form when they file their tax return,” IRS Chief Executive Officer Frank J. Bisignano said in a statement. “Families with eligible children born between 2025 and 2028 just need to check the box on a form to stake their claim for the $1,000 contribution. It’s that simple.”

IRS UNVEILS PROPOSED REGULATIONS FOR NEW TRUMP ACCOUNTS SAVINGS PROGRAM

A screenshot of the Trump Accounts’ homepage. (White House)

The new data is based on how many Form 4547, “Trump Account Election(s),” have been submitted with individual tax returns to date, according to the IRS.

To create a Trump Account and enroll in the pilot program with their 2025 tax return, parents can fill out IRS Form 4547.

The accounts will be available to every American child born between Jan. 1, 2025, and Dec. 31, 2028, and will include a $1,000 seed contribution invested in an index fund. They can be created for anyone who has not turned 18 before the end of the calendar year in which the election is made and has a valid Social Security number.

Each account is in the child’s name and is controlled by parents until the child reaches age 18.

TRUMP ADMIN PROPOSES OPENING 401(K)S TO PRIVATE EQUITY, CRYPTO

President Donald Trump speaks on stage at Verst Logistics on March 11, 2026 in Hebron, Kentucky. (Andrew Harnik/Getty Images / Getty Images)

While no contributions are required, up to $5,000 can be deposited into the accounts per year.

The U.S. Treasury previously estimated that Trump accounts could accumulate significant savings if families maximize contributions and allow the funds to grow.

For example, a fully funded account could reach as much as $1.9 million by age 28, according to the Treasury’s Office of Tax Analysis. At the lower end of projected returns, the account could still yield nearly $600,000 over the same period.

TRUMP NAMES DAVID SACKS CO-CHAIR OF TECH ADVISORY COUNCIL, EXPANDING AI, CRYPTO ROLE

President Donald Trump speaks during the Trump Accounts Launch Summit in Washington, D.C., on Wednesday, Jan. 28, 2026. (Valerie Plesch/Bloomberg via Getty Images / Getty Images)

Without additional contributions beyond the federal government’s initial $1,000 deposit, it is estimated that the account could grow to between $3,000 and $13,800 over 18 years.

Children can receive contributions from parents, relatives, friends, employers, state governments and philanthropic organizations, according to the IRS.

Since the Trump Accounts were first unveiled, numerous major companies have expressed support for the initiative and announced plans to match the government’s $1,000 contribution for eligible employees’ children.

READ MORE FROM FOX BUSINESS

Treasury Secretary Scott Bessent speaks during the Trump Accounts Launch Summit in Washington, D.C., on Jan. 28. (Valerie Plesch/Bloomberg via Getty Images / Getty Images)

More information about Trump Accounts can be found at trumpaccounts.gov.

FOX Business has reached out to the White House for comment.

FOX Business’ Amanda Macias and Emma Colton contributed to this report.