Introduction to QRIS and Its Merchant Discount Rate Policy

TEMPO.CO, Jakarta - Quick Response Code Indonesian Standard, or QRIS, has been popularized as one of the go-to payment methods in Indonesia. However, since July 1, 2023,  Bank Indonesia applied an administration fee to all transactions through QRIS.

QRIS was launched by Bank Indonesia on August 2019 as part of the measure to increase financial inclusivity and payment system efficiency in Indonesia. Utilizing a QR code as the transaction tool, QRIS enables users to pay via a digital wallet, debit card, or credit card connected with QRIS.

QRIS facilitates business owners to receive payment through various payment system service providers (PJSP) without acquiring accounts or tools. QRIS is expected to encourage the usage of electronic money and reduce dependency on paper money. It could also be used to track transactions and avoid money laundering or tax evasion schemes.

New administration fee policy on QRIS 

One of the benefits of using QRIS is the lack of administrative fees or rental costs. However, since July 1, 2023, Bank Indonesia set an administration fee for every QRIS transaction. "The Merchant Discount Rate (MDR) QRIS for micro merchant rises to 0.3%," Bank Indonesia wrote. The administration fee ranges from 0% to 0.3% depending on the transaction value and merchants. The fee is charged to the merchant, not the customers. The administration fee will be collected directly by the financial technology or banks providing QRIS services.

According to the President of the Indonesian Payment System Association (ASPI) Santoso Liem, a 0.7% MDR has been applied for middle, big, and commercial agents while the 0% policy has been applied for micro-merchants with less than RP400 million profit since the conception of the project on January 1, 2020.

The Reason Behind Administration Fee

According to Bank Indonesia, the fee was applied to preserve the balance of interest between merchants, PJSP, and the citizens. It is also intended to encourage operational efficiency and innovation from PJSP and to improve the service and security of QRIS transactions. Bank Indonesia reassured that the administration fee will be lower than others, for example, debit or credit cards.

Even with a 0.3% administration fee, QRIS is still considered one of the most efficient and secure payment methods. However, it is inevitable that all merchants and users alike will be affected by this development. Therefore, it is important for all parties to prepare themselves. Bank Indonesia has provided guidelines and information concerning QRIS on its official website.

MUHAMMAD RAFI AZHARI

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