Qorus Banking Innovation Awards 2023 - Winner

Quick Response Code Indonesian Standard Antarnegara (QRIS Cross-Border)

Submitted by
premium
Q+
20/09/2023Banking Innovation

About

Cross-border QR Payments Linkage (“Cross-border Quick Response Code Indonesian Standard”) is a game changer in digital payments that revolutionizes cross-border payment connectivity. The initiative is a part of continued innovation of Quick Response Code Indonesian Standard (QRIS), the national standard of QR Code for payments. It provides faster, more efficient, safer cross-border payments using QR Code between Indonesia and counterpart countries to support cross-border trade, including the expansion of market access particularly for MSME, and tourism sector to bolster economic growth. Cross-border QRIS also promotes macroeconomic stability by emphasizing the use of local currencies in bilateral settlements of payment transactions.

Want to keep reading?

Become a Qorus member to get access to all our innovations

Interested in learning more? Speak to Boris, Qorus's Content Lead

Qorus has a library of almost 8,000 innovation case studies across critical areas like customer experience, sustainability, marketing & distribution and more that can be used to inform your decision-making.
Contact us

Related innovations

18/03/2025Banking Innovation

Stablecoin-Powered Digital Asset Settlement for Institutional Custody

Traditional banking settlement rails are slow, costly, and inefficient for digital assets. Our stablecoin-powered settlement system revolutionizes institutional custody, providing...

04/03/2025Insurance Innovation

Digitalization of Auto Insurance Claim Processes with BPM

by integrating OCR, RPA and AI technologies, we enabled 10% of claims to be automatically paid without human intervention.

04/03/2025Insurance Innovation

Revolutionizing Insurance Finance with Functional Finance

Functional Finance revolutionizes insurance finance by automating payments, reconciliation, and accounting. Our platform reduces costs, eliminates errors, and streamlines workflows—no...

04/03/2025Insurance Innovation

Transactional Insurance Technology

Redkik is a trailblazing global software company, on a mission to streamline and enhance the insurance industry within the logistics...

Related news & insights

Insurance
20/03/2025Article

Vote now to decide on the 2025 Innovation in Insurance Awards winners!

Discover this year’s nominees and vote!

SME Banking
19/03/2025News

Ant International introduces embedded finance for e-commerce SMEs in Brazil

The initiative, led by Ant International’s AI-driven lending platform Bettr, marks a strategic collaboration with AliExpress and local partners to...

Digital Reinvention
19/03/2025News

Burbank launches first online card-present payment, enhancing digital security

The innovation, known as "Card-Present over Internet" (CPoI), introduces tap-and-PIN authentication to online purchases for the first time, bringing a...

ESG
19/03/2025News

NTUC LearningHub launches Green Academy to support SMEs in sustainability transformation

NTUC LearningHub has officially launched the NTUC LHUB Green Academy, a new initiative aimed at promoting sustainability skills and workforce...