TEMPO.CO, Jakarta - Bank Indonesia (BI) and Bank of Thailand (BOT) issued QR code payment system that can be used internationally between Indonesia and Thailand on Tuesday, August 17. Through this project, consumers and traders in these two countries will be able to accept instant QR payment for goods and services.

"I would like to thank the Bank of Thailand who have, together with us, realized the dreams to connect QR Indonesia Standard with QR Thailand Standard. Not only for the people of Indonesia, but also for the people of Thailand," said Bank Indonesia governor Perry Warjiyo in a press conference on Tuesday, August 17, 2021.

It is the first service that connects retail payment operators of both countries. This also marked an important step in the initiative of ASEAN Payment Connectivity aimed at promoting financial integration in the region.

Today's launching is the pilot phase of the project, which aims to ensure smooth interconnection and pave the way for customers, merchants and operators for a full commercial launch next year.

At this stage, users from Indonesia can use the mobile payment application to scan Thailand's QR code to make payment at merchants in Thailand, and vice versa. Users can also use this service for international e-commerce transaction.

BI said this service would be advantageous for the people in Indonesia and Thailand who intend to do international transaction, such as tourists. Once the international trip is reopened, the tourism would be the first sector that will reap the benefit from this service due to the high traffic of tourists between the two countries.

The fully commercial phase would be launched in Q1/2022. At this stage, more banks/ non-banks that are participated are expected to join the project. In the future, this service would be expanded to allow users in both countries to easily transfer funds in real time by reffering to the recipient's mobile number.

Read: Bank Indonesia Launches QRIS on Independence Day

Caesar Akbar