Bank Indonesia and the Bank of Korea have officially launched a cross-border QR-based payment system, enabling Indonesian citizens to make transactions in South Korea using QRIS through domestic apps without the need for currency conversion.
Payments are settled directly in the local currencies of both countries, making transactions more efficient and cost-effective, Bank Indonesia said in statements on Wednesday.
The launch is part of a Joint Vision Statement (JVS) signed by Indonesian President Prabowo Subianto and South Korean President Lee Jae Myung on April 1, in South Korea.
Bank Indonesia Governor Perry Warjiyo described the launch as a critical step toward creating an integrated, efficient, and inclusive payment system as the foundation for digital economic connectivity between Indonesia and South Korea.
“The connectivity of cross-border QR payments not only facilitates transactions but also strengthens SMEs, boosts tourism, and opens new opportunities for businesses, supporting inclusive and sustainable economic growth,” he added.
Echoing this, Bank of Korea Deputy Governor Chang Cheong-soo said the initiative reflects the growing cooperation between the two countries, particularly in strengthening digital finance and economic integration.
“We are committed to fostering strategic collaboration to further integrate payment systems and support closer digital economic connectivity between Korea and Indonesia,” he added.
It is noted that Quick Response Code Indonesian Standard (QRIS) has been a major driver of digital payment transformation in Indonesia, strengthening economic sovereignty and reaching 60.77 million users by February 2026.
Cross-border QRIS adoption is also increasing among partner countries.
In 2025, inbound transactions by foreign tourists in Indonesia totaled 5.89 million, significantly exceeding outbound transactions by Indonesians abroad, which reached 1.68 million.
Previous cross-border QRIS collaborations have shown strong results: with Thailand (launched August 2022) recording 1.64 million transactions worth Rp656.27 billion ($38.65 million); Malaysia (May 2023) 10.66 million transactions worth Rp2.75 trillion ($162.25 million); Singapore (November 2023) 554,510 transactions worth Rp179.28 billion ($10.56 million); and Japan (August 2025) 5,088 transactions worth Rp428.80 million ($24,253).
Bank Indonesia and the Bank of Korea also reiterated their commitment to providing a secure, reliable, and efficient cross-border payment system, aimed at strengthening financial resilience and supporting inclusive economic growth.
Korea, Indonesia to launch cross border QR payment service in April