\tIndonesia\u2019s central bank approved a standard QR code system, with mobile payment providers given until the end of the year to upgrade platforms to accept the new protocols.<\/p>\n
In a statement, Bank Indonesia said the introduction of a national standard for mobile payments would improve transactional efficiency and accelerate financial inclusion efforts in the country.<\/p>\n
The bank added it would also benefit small and medium sized businesses as it would improve the efficiency of their operations.<\/p>\n
Once rolled out, the QR code system will be used for transactions through mobile payment providers, electronic wallets and mobile banking applications.<\/p>\n
The move comes after a number of tests and the formation of a working group [1] in the country in September. Its system will follow international guidelines, allowing providers in Indonesia to process remittance transactions originating in other countries.<\/p>\n
At the launch ceremony, Bank Indonesia governor Perry Warjiyo (pictured, centre) said the system would ultimately help stimulate economic growth in the country.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/money\/news-money\/indonesia-pushes-qr-standard-for-payments\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Indonesia’s central bank approved a standard QR code system, with mobile payment providers given until …<\/p>\n
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