Have you ever wondered who actually processes the transactions when customers scan QRIS at your store? Behind that checkerboard sticker, there’s an important role played by PJP QRIS.Without them, cashless payments in Indonesia wouldn't have developed as quickly as they have today.
Since its launch by Bank Indonesia, QRIS (Quick Response Code Indonesian Standard) has become the national standard for QR-based payments. But remember, QRIS is not an app, it’s a standard. To make this standard usable, an official institution is needed as a bridge between the buyer, the seller, and the banking system. This institution is called PJP.
What is PJP QRIS?
PJP (Payment Service Provider) is a bank or an institution other than a bank that provides services to facilitate payment transactions.
For PJP QRIS, this means the institution has received official authorization from Bank Indonesia to provide payment services through QRIS. Its task is to ensure that the money deducted from the buyer's balance is safely transferred to your account and legally recorded.
What’s the Difference Between PJP and PJSP?
You may have heard of the term PJSP (Payment System Service Provider), which is an old term,but now, the official term has been updated to PJP.
- PJSP → the old term for payment system service providers
- PJP → the new term that is broader and covers the fintech & banking ecosystem
In terms of function, they are actually similar, but PJP is the official term used in the latest regulations.
Role of PJP QRIS
PJP QRIS is like the "engine" behind the scenes that ensures your transactions run smoothly. Its roles include:
- Acquiring → Collecting funds from QRIS transactions and transferring them to the merchant's account.
- Onboarding → Verifying data and registering your business so you can have an official QRIS.
- Settlement → Ensuring the transfer of funds between banks/e-wallets is smooth and timely.
- Security → Protecting transaction data from fraud or hacking risks.
Benefits of PJP QRIS
If you use a reliable PJP QRIS, there are many benefits:
- One QR for All, no need for many QR codes. One QRIS can be used across all bank apps and e-wallets.
- Automatic reports, all transactions are digitally recorded. So you don’t have to worry about checking them one by one.
- Safer, because you are managed by an institution closely monitored by Bank Indonesia. The risk of counterfeit money or edited transfer proofs is much lower.
- More efficient, no need for individual integration with each bank. It’s more practical and cost-effective.
Want your store to look more professional and accept payments from all e-wallets and bank apps? Don’t let customers cancel their shopping just because there’s no digital payment option!
Use QRIS from Ayolinx for your business. Registration is easy, the process is fast, transparent, and the system is stable. You focus on selling & growing your business, let Ayolinx handle the payments.
Let’s sign up for QRIS Ayolinx now and make transactions more convenient!
