The Bank of Indonesia (BI) branch in Cirebon, located in West Java province, has recorded a notable increase in the number of merchants using the QRIS rapid payment system, with the total reaching 914,070 merchants by February 2026. This increase comes at a time when the world is witnessing a shift towards digitization in various aspects of life, including payment systems.
In a statement, the Deputy Head of the Bank of Indonesia in Cirebon, Himawan Putranto, confirmed that the number of merchants joining the QRIS system saw an increase of 37,670 merchants during January and February of this year. These figures reflect the rapid transition towards adopting digital payment systems by various economic groups.
Details of the Event
According to reports, the small business sector (UKE) dominates the transaction volume through the QRIS system, accounting for 49.28% of total transactions. Meanwhile, medium-sized businesses recorded 19.77% and small businesses approximately 19.34%. Data also showed that large businesses (UBE) contributed 10.58% of the total transaction volume.
As for other sectors, government and public service sectors (BLU/PSO) contributed 0.38%, while other sectors accounted for 0.65%. It is noteworthy that the transaction volume through the QRIS system in the Cirebon area during January and February reached 41.88 million transactions, with a total value of 3.58 trillion rupiah.
Background & Context
Indonesia is considered one of the countries undergoing a significant transformation towards a digital economy, as the government seeks to enhance technology use across all fields. The QRIS system, launched in 2019, aims to unify digital payment systems in the country, making it easier for merchants and consumers to conduct transactions more quickly and securely.
The importance of this system is increasing in light of the current economic conditions, as many merchants strive to improve the efficiency of their operations and reduce costs associated with cash transactions. Additionally, the shift towards digital payments contributes to enhancing transparency and reducing corruption.
Impact & Consequences
The figures indicate that the adoption of the QRIS system could have a significant impact on the Indonesian economy. By facilitating business transactions, this could lead to an increase in business volume and economic growth. Furthermore, this transition can contribute to improving individuals' living standards by providing new job opportunities and fostering innovation across various sectors.
Moreover, the shift towards digital payments can help reduce reliance on cash, thereby enhancing the stability of the financial system and mitigating risks associated with cash transactions.
Regional Significance
Indonesia's experience in adopting the QRIS system could serve as a model for Arab countries seeking to enhance the use of technology in their financial systems. Given the economic challenges faced by many Arab nations, transitioning to digital payments could be an effective means to boost economic growth and improve business efficiency.
Furthermore, enhancing digital payment systems can contribute to improving transparency and reducing corruption, which are among the main challenges facing many countries in the region. Leveraging successful experiences from countries like Indonesia can assist Arab nations in achieving their economic goals.