Indonesia’s national QR payment system, QRIS (Quick Response Code Indonesian Standard), is set to launch in South Korea by April 2026. The milestone follows a High Level Meeting on February 5, 2026, attended by Bank Indonesia Governor Perry Warjiyo and Bank of Korea Governor Rhee Chang-yong, where both sides agreed to finalize preparations for cross-border QR payments.
The initiative builds on a Memorandum of Understanding signed in July 2024. It is further supported by the Local Currency Transaction framework between Indonesia and South Korea, which has been in effect since September 2024. This interconnection is expected to reduce foreign exchange conversion costs and lower transaction fees for users in both countries.
In a joint press release issued on February 6, 2026, Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance confirmed the service will enable seamless cashless payments for travelers. The system is also expected to support real-sector economic activities, including trade, tourism, and consumer spending between the two nations.
Preparations for the rollout were strengthened by a live demonstration at Indonesia’s Digital Finance Economy Festival in October 2025. During the event, KFTC Director Park Jong Seok confirmed that Korean banking apps such as KB Kookmin Bank, Shinhan Bank, and Woori Card successfully scanned QRIS codes at Indonesian merchants.
Bank Indonesia Deputy Governor Filianingsih Hendarta stated that implementation is targeted for late March or early April 2026. With QRIS transactions already growing 131.4 percent year on year as of January 2026, the expansion into South Korea marks a key step in extending QRIS connectivity across around nine Asia-Pacific countries.
