Inp.polri.go.id - Jakarta. In a major leap for digital financial integration, Bank Indonesia (BI) officially launched the cross-border Quick Response Code Indonesian Standard (QRIS) linkage with China on Thursday (30/4/2026), allowing travelers and businesses from both nations to make retail payments seamlessly by scanning QR codes across borders.
The system is built upon the Local Currency Settlement (LCS) mechanism, enabling direct transactions between the Indonesian Rupiah and the Chinese Yuan. By bypassing third-party reserve currencies like the US Dollar, the linkage reduces exchange rate risks and lowers transaction costs for consumers and MSMEs alike.
"This interconnection demonstrates real progress in bilateral financial integration," said Bank Indonesia Governor Perry Warjiyo during the launch ceremony in Jakarta.
Representatives from Bank of China and UnionPay International also highlighted that the move simplifies the payment experience, as travelers no longer need to exchange physical cash and can instead use familiar platforms like UnionPay Yunshanfu or Alipay.
The launch aligns with Indonesia's booming digital economy, which saw QRIS transactions surge by 119 percent in the first quarter of 2026.
(mg/inp/pr/rs)
