Bank of Indonesia and the Bank of Korea have launched the Indonesia–South Korea QR Cross-Border Payment Linkage, enabling Indonesians to make payment transactions in South Korea using QRIS via domestic applications. Transactions are conducted directly in the two countries’ local currencies, removing the need for foreign-currency exchange. The launch was officiated by Bank of Indonesia Governor Perry Warjiyo and Bank of Korea Senior Deputy Governor Sangdai Ryoo and is framed as part of the Joint Vision Statement between President Prabowo and President Lee Jae Myung. Implementation relies on coordination between Bank Indonesia, the Bank of Korea, the Indonesia Payment System Association (ASPI) and its infrastructure members, the Korea Financial Telecommunications & Clearings Institute (KFTC), and participating financial institutions. Bank Indonesia reported 60.77 million QRIS users as of February 2026 and disclosed cross-border QRIS usage metrics, including 2025 inbound transactions by foreign tourists in Indonesia of 5,892,621 versus outbound transactions by Indonesians abroad of 1,681,112, alongside transaction and value figures for existing QRIS cross-border links with Thailand, Malaysia, Singapore, and Japan. Initial participants from 1 April 2026 include PT Airpay International Indonesia; PT Bank Central Asia, Tbk; PT Bank CIMB Niaga, Tbk; PT Bank Mandiri (Persero), Tbk; PT Bank Mega, Tbk; PT Bank Nationalnobu, Tbk; PT Bank Negara Indonesia (Persero), Tbk; PT Bank OCBC NISP, Tbk; PT Bank Permata, Tbk; PT Bank Sinarmas, Tbk; PT Bank Tabungan Negara, Tbk; PT Bank Woori Saudara Indonesia 1906, Tbk; PT Espay Debit Indonesia Koe; PT Finnet Indonesia; and PT Netzme Kreasi Indonesia, with additional firms slated for phased implementation and others listed as in process.
Bank of Indonesia 2026-04-01
Bank of Indonesia and the Bank of Korea launch Indonesia–South Korea QR cross-border payment linkage enabling QRIS payments in South Korea
Bank of Indonesia and the Bank of Korea have launched the Indonesia–South Korea QR Cross-Border Payment Linkage, allowing Indonesians to make QRIS-based payments in South Korea via domestic applications with transactions settled in local currencies. Implemented with domestic payment system associations, infrastructure providers and financial institutions, it builds on existing QRIS cross-border links and initially involves a broad set of Indonesian banks and payment service providers, with further participants to be added in phases.