Project XBY

Asia-Pacific · GDP rank #15

Indonesia

ID · IDR @ 0.0000566/USD

South East Asia's largest payments market continues to move from cash to QR faster than any G20 economy. QRIS transactions reached 7.83 billion year-to-date by May 2026 with 45 million merchants and 63 million users; Bank Indonesia opened the QRIS-China corridor on 30 April 2026, connecting 40 million Indonesian merchants to Alipay/UnionPay travellers. BI-FAST is the mature inter-bank rail; the wallet war between GoPay, OVO, DANA and ShopeePay continues to compress.

Tab 08

Pulse

The preceding ~90 days of macro, regulation, product, funding and milestone events. Each item is primary-sourced; no trade-press echo.

  1. 11 days agodata

    QRIS reaches 7.83B YTD transactions, 45.3M merchants, 63M users

    Bank Indonesia confirmed YTD-May 2026 QRIS aggregates of 7.83 billion transactions, 45.3 million merchants and 63 million users against its '17-8-45' 2026 targets. The full-year run-rate would top the 17 billion target if April-May momentum holds.

    • #qris
    • #milestone
    • #data
    • #bank-indonesia

    Source: Jakarta Globe / Bank Indonesia

  2. 3 weeks agodata

    QRIS volume +108% YoY in April 2026 — Bank Indonesia

    Bank Indonesia's April monthly print showed QRIS transactions up 108.43% YoY, building on the 131.47% January expansion. Volume growth has decelerated as the base effect builds but remains the fastest of any large emerging-market QR rail.

    • #qris
    • #data

    Source: Infobanknews

  3. 4 weeks agolaunch

    QRIS-China cross-border QR corridor goes live

    Bank Indonesia and the People's Bank of China launched the QRIS-China cross-border payment system in Jakarta on 30 April. Alipay and UnionPay App users can scan more than 40 million QRIS merchants in Indonesia; QRIS-supported apps can scan over 80 million Alipay/UnionPay QR codes in China. Settlement runs on IDR-CNY local-currency rails.

    • #qris
    • #china
    • #cross-border

    Source: Xinhua

  4. 7 weeks agolaunch

    QRIS cross-border corridor with Japan enters live-phase pilot

    Bank Indonesia and Bank of Japan activated the first phase of QRIS-JP cross-border payment interoperability. Initial deployment limited to Bali and Jakarta; full national rollout scheduled for Q3 2026. Korea and India remain on the 2026 corridor schedule.

    • #qris
    • #japan
    • #cross-border
    • #tourism

    Source: Bank Indonesia

  5. 3 months agoregulation

    OJK assumes crypto-asset supervision from Bappebti; new CASP licensing regime

    Otoritas Jasa Keuangan took over supervision of crypto assets from commodity-futures regulator Bappebti in January 2025; the operational licensing transition completed in March 2026. 24 virtual-asset service providers received full OJK CASP licences; another 8 remain under review. Bank Indonesia retains authority over rupiah-settled stablecoins.

    • #ojk
    • #crypto
    • #casp
    • #regulation

    Source: Otoritas Jasa Keuangan

  6. 3 months agomilestone

    BI-FAST crosses 2bn annualised transactions; SKNBI deprecation timeline firming

    BI-FAST processed an annualised 2.1bn transactions in Q1 2026, up from 1.9bn in full-year 2024. Bank Indonesia signalled that once 100% of retail credit flows are on BI-FAST — expected by end-2028 — the legacy SKNBI system will be retired. Fee differential remains the primary adoption driver: Rp2,500 on BI-FAST versus Rp6,500 on SKNBI per transfer.

    • #bi-fast
    • #sknbi
    • #milestone

    Source: Bank Indonesia