Paymentwall has integrated QRIS and became the first international payment provider to offer QRIS payments in Indonesia for global businesses.
The QR Code Indonesian Standard (QRIS) allows users of various electronic money applications, electronic wallets, and mobile banking services to pay using a single QR code across all platforms, instead of having separate QR codes for e-wallet apps such as OVO, Go-Pay, LinkAja, Dana, mobile banking apps such as BCA, Sinarmas, Maybank, CIMB, and more.
QRIS was developed by the payment industry together with Bank Indonesia so that the transaction process with online and physical QR codes can be easier, faster, and more secure. Customers can complete their purchase by scanning a QR code provided in the Paymentwall checkout with any supported payment app.
Riding on the coattails of the Chinese success of WeChat Pay and Alipay, Indonesia, and other countries in Southeast Asia have recognized the advantages of adopting the QR code payment system and are making significant inroads in terms of implementation in more countries in the region as they move towards a cashless society.
Indonesia is one of the fastest-growing economies in Southeast Asia. It is the fourth largest country in the world, with over 265 million citizens, and the biggest economy of Southeast Asia. Today’s shoppers in Indonesia present a massive opportunity for global commerce. They are predominantly young, with a median age of 29 y.o., mobile-savvy, and enthusiastic about international brands.
Through a single API integration with Paymentwall, merchants in Europe, the US, Latin America, Southeast Asia, and the Middle East will be able to process QRIS payments in Indonesia alongside any of over 150 supported payment methods at the flick of a switch, without the need for a local entity.
To start accepting payments in Indonesia, create an account now at www.paymentwall.com or send us a message at bizdev@paymentwall.com.