Indonesia and South Korea have launched a cross-border QR code payment system that allows Indonesian QR Code Indonesian Standard (QRIS) payments to be used in South Korea. The initiative, introduced by the two countries’ central banks, is intended to simplify transactions for travellers and businesses by enabling payments without the need to exchange currency. According to the cross-border QR code-based payment system announcement, the arrangement is also expected to support tourism, micro, small and medium-sized enterprises (MSMEs), and broader digital economic connectivity between the two countries.
The system was launched jointly by Bank Indonesia Governor Perry Warjiyo and Bank of Korea Senior Deputy Governor Sandai Ryoo, with ceremonies held simultaneously in Jakarta and Seoul. The initiative forms part of a Joint Vision Statement signed by Indonesian President Prabowo Subianto and South Korean President Lee Jae Myung during President Prabowo’s visit to Seoul.
Cross-Border Payments Without Currency Exchange
The new system enables residents of both countries to pay merchants by scanning QR codes using their domestic payment applications. Transactions are processed directly between the participating systems, removing the need for manual currency exchange and potentially lowering transaction costs for consumers and businesses.
“The cross-border QR code payment system not only facilitates trade but also strengthens MSMEs and tourism, opens new business opportunities, and promotes inclusive and sustainable economic growth,” — Perry Warjiyo, Governor, Bank Indonesia
Warjiyo described the launch as a milestone in advancing a shared goal of building an integrated, efficient and inclusive regional payment system. The initiative is designed to strengthen economic connectivity while supporting digital payment adoption across borders.
Financial Sector Cooperation Behind the Initiative
The cross-border system is supported by cooperation between several financial sector institutions. Bank Indonesia said the rollout involves the Indonesian Payment System Association (ASPI), the Korea Financial Telecommunications & Clearings Institute (KFTC), and other stakeholders in both countries’ financial ecosystems.
“We are committed to encouraging more strategic cooperation to strengthen payment system integration and support digital economic connectivity between South Korea and Indonesia,” — Chang Cheong-soo, Deputy Governor, Bank of Korea
QRIS Expansion and Regional Adoption
QRIS has become a central component of Indonesia’s digital payment infrastructure. As of February 2026, the system had reached 60.77 million users, reflecting the rapid adoption of QR-based payments across the country.
Indonesia has also been expanding QRIS interoperability with other markets in the region. Cross-border QR payment arrangements are already available with several countries, including Thailand, Malaysia, Singapore and Japan. Among these partners, Malaysia has recorded the highest transaction activity, with 10.6 million transactions valued at Rp2.75 billion.
Officials from both countries view the Indonesia–South Korea integration as part of a broader effort to strengthen financial cooperation and support the growth of the digital economy in Asia.
