eir daily life that has changed in various aspects. These aspects are the innovation of technology, social and cultural aspects. One aspect that is influenced by globalization is the aspect of innovation. Where in the innovation in the world, each country is always growing and finding the innovations to facilitate all human activities.
One of the human activities that are driven by the discovery of innovation is the digital revolution in conducting transactions using digital payments. Especially when the virus-19 pandemic hit the world, especially Indonesia, it changed all human activity habits, one of which was physical distancing and creating strategies to familiarize people that always being a cashless society in a transaction. Which is when the world is hit by the Covid-19 pandemic, besides being able to harm many peoples and all counties in the world. But through the emergence of this pandemic, there are lessons to be learned. It is forming a society to be more creative and innovative in creating innovation. Because in the era of the covid-19 pandemic, the digital aspect plays an important role in helping human activities, one of which is in making payment transactions.
Due to entering the era of the Covid-19 pandemic, individuals are accustomed to changing their habits in transactions, where previously people used cash and currently turned into cashless through digital payments. Based on data from the Ministry of Finance of the Republic of Indonesia explained that digital economy transactions increased by 25% during the pandemic (Ministry of Finance of the Republic of Indonesia, 2021). Digital transactions can have a positive impact on the country to restore the economy during a pandemic. Through the digital transaction, individuals can make cashless transactions which in the pandemic era people have difficulty in transacting.
Indonesia is one of the countries that received an International Award in 2020 from Central banking Publications in the Central banking’s Fintech and Regtech Global Awards in the category of payment system innovation using new technology and having a positive impact on efficiency in conducting transactions through QRIS (Media Indonesia, 2020). The Quick Response Code Indonesian Standard (QRIS) is a National QR code standard to facilitate QR code payments in Indonesia which were launched by Bank Indonesia and the Indonesian Payment System Association which was launched on August 17, 2019. QRIS was developed by the payment system industry together with the Bank of Indonesia so that the transaction process with the QR code can be easier, faster, and more secure (PT. Telekomunikasi Tbk, 2022).
The Quick Response Code Indonesian Standard (QRIS) brings benefits to application users or merchants. The benefit of the users themselves, users do not need to carry cash, make transactions quickly, and the users are protected due to all Payment System Service Providers that organize QRIS already having permission and are supervised by Bank Indonesia. Meanwhile, Merchants get benefits such as potentially increasing sales because they can accept any QR-based payment are more practical, avoid counterfeit money, transactions are recorded automatically, and can be viewed at any time (Central Bak of the Republic of Indonesia, 2020). The payment using QRIS simply by opening mobile banking on our smartphone or non-banks to select the “QR” pay button then point the camera at QRIS then enter the pin. And the transaction is successful. There are a few types of payments that can be made with QRIS almost all of them can make payments via QRIS, such as shopping at supermarkets, coffee shops, tourist attractions, shopping centers, etc. Payment using QRIS is an alternative to make transactions easier without having to use cash.
The innovation of digital transactions through QRIS (Quick Response Code Indonesian Standard), has a very good impact on Indonesia because, in addition to making it easier for local people to transact, through QRIS, it will also make it easier for people across countries as well. Indonesia is currently collaborating with 3 countries including Thailand, the Philippines, and Malaysia. Where QRIS has been connected with several banks abroad for the use of Local Currency Settlement. Meanwhile, in Thailand, the banks that cooperate with QRIS include Bangkok Bank (BBL), the bank of Ayudha (Krungsri), and CIMB Thai bank (CIMBT) (jaringan Prima, 2021). In Indonesia, these banks are BCA (Bank Central Asia), BNI (Bank Negara Indonesia), BRI (Bank Rakyat Indonesia). In addition, Indonesia also has a network of Indonesian commercial and sharia bank offices located abroad such as Singapore, Malaysia, Timor Leste, India, Hong Kong, Japan, and the United States. The large network of Indonesian commercial bank offices abroad can be used as an opportunity for Indonesia to expand the digital transaction innovation network through QRIS (Financial Services Authority, 2017). So that with the QR Code Indonesia Standard (QRIS, Indonesian in these countries will be able to shop easily through QRIS without having to exchange money to a money changer.
In addition, the digital transaction can be a strategy for Indonesia to increase international cooperation networks. It can be proven by the cooperation between Indonesia and the three countries. Such as Thailand, the Philippines, and Malaysia. It is hoped that Indonesia will establish cooperation with many countries other than the three countries mentioned. Because through the transaction innovation, it will become an innovation and Indonesian product that must be popularized and introduced to foreign countries. Through this innovation that will be realized, it will bring good relations among countries by maximizing cooperation in the field of innovation and making it easier for Indonesian people to transact abroad. On the other hand, the establishment of innovation collaborations, especially the QR Code Indonesia Standards, will improve Indonesia’s performance abroad. Through these innovations, Indonesia is seen as a creative country and has high innovation power to make it easier for people to carry out the activities, especially in transactions. Consequently, Indonesia must maximize its opportunities through innovations that are formed and digital transactions must be developed to various countries and each country requires cooperation as a strategy to conduct transactions without having to exchange money at the money changer.
*Ramadhan Dwi Saputra (Research Assistant at Universitas Islam Indonesia)
Bank Sentral Republik Indonesia. (2020). Kanal dan Layanan. Bank Indonesia. Retrieved January 22, 2022, from https://www.bi.go.id/QRIS/default.aspx#heading11
Jaringan Prima. (2021, Oktober 14). QRIS Bakal Bisa Digunakan di ASEAN, Arab, dan India. https://www.jaringanprima.co.id/id/qris-bakal-bisa-digunakan-di-asean-arab-dan-india
Kementerian Keuangan Republik Indonesia. (2021, Januari 29). Transaksi Ekonomi Digital Meningkat 25% Selama Pandemi. https://www.kemenkeu.go.id/publikasi/berita/transaksi-ekonomi-digital-meningkat-25-selama-pandemi/
Media Indonesia. (2020, November 11). Dinilai Inovatif QRIS Raih Penghargaan Internasional. https://mediaindonesia.com/ekonomi/359991/dinilai-inovatif-qris-raih-penghargaan-internasional
Otoritas Jasa Keuangan. (2017). Daftar Jaringan Kantor Bank Umum dan Syariah Indonesia di Luar Negeri. https://www.ojk.go.id/id/kanal/perbankan/data-dan-statistik/Pages/Daftar-Jaringan-Kantor-Bank-Umum-Indonesia-di-Luar-Negeri.aspx
PT. Telekomunikasi Tbk. (2022). QRIS (Quick Response Code Indonesian Standard) Satu QR Code untuk semua Payment. Retrieved January 22, 2022, from https://qris.id/homepage/