Qris

#Bank Transfer

QRIS is a payment method used in Indonesia. It is a digital payment system based on QR codes. QRIS stands for “Quick Response Code Indonesian Standard.” This payment method […]

Certified payment providers 1
Market coverage 1
  • Indonesia
Currencies 1
  • Indonesia Rupiah
Description

QRIS is a payment method used in Indonesia. It is a digital payment system based on QR codes. QRIS stands for “Quick Response Code Indonesian Standard.” This payment method was developed by Bank Indonesia, the country’s central bank, with the aim of facilitating electronic transactions and promoting financial inclusion.

The QRIS system allows users to make payments by simply scanning a QR code with their mobile phone. The QR code contains the necessary information to complete the transaction, including merchant details and the payment amount. Consumers can use their bank’s mobile application or any other QRIS-compatible e-wallet to make the payment.

One of the advantages of the QRIS payment method is its interoperability, which means it can be used with different applications and by different banks. This makes it easier for users of different payment platforms to transact with each other.

QRIS has been widely adopted in Indonesia and is used in various contexts such as retail stores, restaurants, public transportation, and even charitable donations. It has helped reduce reliance on cash payments and has driven the adoption of electronic payments in the country.

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Frequently Asked Questions

What are the best practices for managing cross-border payments?2023-04-18T18:56:57+02:00

NORBr is a payment orchestrator that connects you to all cross-border payment services providers that can help you manage your cross-border payments efficiently and securely, while also ensuring compliance with relevant regulations. NORBr offers advanced features like fraud detection, currency conversion, and real-time tracking and reporting, which can help you optimize your payment processing for cost efficiency and speed.

What are the risks associated with cross-border payments?2023-04-18T18:57:21+02:00

Cross-border payments can be associated with several risks for you, including currency fluctuation risk, regulatory risk, and fraud risk. Currency fluctuation risk refers to the potential impact of exchange rate fluctuations on the value of your payments. Regulatory risk relates to the complexity of complying with different regulations in different countries. Fraud risk refers to the potential for fraudulent activity, which can be more difficult to detect and prevent in cross-border transactions.

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