Who hasn’t heard of this payment method? Yes, QRIS! A payment method that is currently popular in Indonesia, especially among those who are starting to appreciate the convenience it offers.
With QRIS, you can complete a payment quickly and easily just by scanning a QR code. Curious to know more about what QRIS is, transaction limits, and the administrative fees involved? Let’s dive into the complete explanation below!
What is QRIS?
QRIS or Quick Response Code Indonesian Standard is a QR code standard set by Bank Indonesia to facilitate digital payment transactions.
With QRIS, users can make payments using digital wallet apps or mobile banking simply by scanning a QR code. This standard is implemented nationwide, making it easier to perform transactions across various payment platforms.
QRIS Transaction Limits
QRIS has transaction limits in place to ensure the security and convenience of users. Currently, the maximum transaction limit for QRIS is IDR 10 million per transaction. However, this limit may vary depending on the policies of the payment service provider or the bank being used.
Benefits of QRIS
With the advancement of technology, the banking world has felt the difference, especially when it comes to faster, safer, and more efficient transactions by simply scanning a QR code. So, what are the benefits of QRIS for merchants and users? Here’s a breakdown:
Benefits of QRIS for Merchants:
- Provides customers with a wider range of payment options.
- Speeds up the payment process, saving time.
- Reduces the risk of fraud since all transactions are recorded digitally.
- Makes it easier to monitor and analyze transactions for business purposes.
- Eliminates concerns about counterfeit money since payments are electronic.
- The merchant registration process is simple and fast.
Benefits of QRIS for Users:
- Practical and easy to use – just scan the QR code.
- Flexible, allowing you to choose from various payment methods.
- Safe transactions free from fraud risks.
- Can be used through various mobile banking apps or e-wallets.
How to Pay Using QRIS
1. QRIS Merchant Presented Mode (MPM) Static
MPM Static is a QR code that can be printed as a sticker or tent card. This is an open Paymentmethod, meaning it can be used repeatedly for transactions with different amounts.
It’s simple – merchants just need to provide this QR code to the buyer. The buyer then scans the code and enters the amount to be paid. It’s that easy!
2. QRIS Merchant Presented Mode (MPM) Dynamic
For MPM Dynamic, the QR code doesn’t need to be printed but is generated from an EDC machine. This is a closed payment method, meaning each code has a set amount and can only be used once.
For each new transaction, the merchant needs to create a new QR code based on the amount to be paid. Both the merchant and the buyer are actively involved: the merchant generates the QR code, and the buyer scans it to complete the payment.
Also Read: Here Are The Virtual Account Codes For Funds From All Banks
3. QRIS Customer Presented Mode (CPM)
Lastly, there’s the CPM Dynamic, where the QR code is generated directly from the buyer’s smartphone. This code is dynamic, meaning it changes and is only valid for specific transactions within a set time frame.
The process is simple – the buyer displays the QR code from their app, and the merchant scans the code to complete the payment. Super practical, right?
So, whether you’re using a static, dynamic, or customer-presented mode, QRIS has become one of the most practical transaction methods for both merchants and customers!
What Are the QRIS Administrative Fees?
The administrative fee for QRIS, also known as the Merchant Discount Rate (MDR), is typically around 0.7% of the transaction value for regular merchants. However, there are special rates for specific sectors, such as education and social services.
Minimum Payment for QRIS
There is no minimum payment required for QRIS. You can make a transaction of any amount, as long as the merchant accepts it.
What Payment Methods Does QRIS Accept?
QRIS can accept payments from various digital payment apps that support QRIS, such as GoPay, OVO, DANA, LinkAja, ShopeePay, and mobile banking from participating banks.
Conclusion
QRIS is a practical solution for digital payments that simplifies transactions for both users and merchants. With its broad benefits, QRIS promotes financial inclusion in Indonesia and advances secure, practical, and efficient cashless transactions. Be sure to take advantage of QRIS for ease in your everyday payment activities.
