Indonesians Do Not Use Cash Because QR Code Payments Are Becoming The Norm

Jul 28, 2023 - Views: 357

Rating: 4.7 - 50Votes

Since this service's inception in 2019, the rate of QR payments in Southeast Asia's largest economy has almost tripled annually.

Since the service's introduction in 2019, the rate of QR payments in the biggest economy in Southeast Asia has almost tripled annually.

Santy Caesar, 32, a Jakartan, went shopping while on vacation in Bangkok earlier this year.

She then discovered that her credit card had been blocked as a result of the bank noticing an odd trend of purchases.

While looking for other payment methods, she discovered that many stores in the Thai capital accepted QR code payments through an app that she had managed to connect to her local bank account.

She would rely on QR payments for her upcoming trip to Singapore in March to see the Taylor Swift performance, encouraged by the simplicity of becoming cashless when traveling abroad.

Indonesians shun cash as QR code payments are now the norm

Indonesians shun cash as QR code payments are now the norm

It never occurred to her to carry out any transaction in Thailand without first exchanging her rupiah for Thai baht, she claimed.

She also mentioned how carrying cash was a bother and how worry about pickpockets was reduced by QR payments.

One of the five countries in the region to sign a historic cross-border payments agreement last year that permits transactions through QR codes is Indonesia, the largest economy in Southeast Asia. 

Singapore, Malaysia, Thailand, and the Philippines are among the other nations taking part in this huge endeavor.

It was revealed two weeks ago that by the end of this year, businesses and individuals in Indonesia will be able to scan QR codes given by Singapore-based e-payments service provider Nets. 

Additionally, visitors from Singapore to Indonesia will be able to use their cell phones to make QR code payments using bank accounts that are linked to Nets.

Also read: Levi's And Highsnobiety Make Wearing QR Codes Cool

Rating: 4.7 - 50Votes

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