The Business Times
business-time-50
Asean Business logo
SPONSORED BYUOB logo

Indonesians shun cash as QR code payments now the norm

Rate of QR payments in South-east Asia’s largest economy has tripled nearly every year since this service was launched in 2019

google-preferred-sourceAdd BT as a preferred source
    • By end-2023, travellers visiting Indonesia from Singapore can use their smartphones to make QR code payments from their Nets-linked bank accounts.
    • By end-2023, travellers visiting Indonesia from Singapore can use their smartphones to make QR code payments from their Nets-linked bank accounts. PHOTO: NETS

    Elisa Valenta

    Published Mon, Jul 17, 2023 · 05:00 AM

    [JAKARTA] Santy Caesar, a 32-year-old from Jakarta, was out shopping during a vacation in Bangkok earlier this year when she realised her credit card was blocked due to the bank detecting an unusual purchase pattern.

    As she hunted for other payment options, she noticed that many shops in the Thai capital accepted quick response (QR) code payments via an app that she managed to link to her local bank account.

    Buoyed by the ease of going cashless when overseas, she is also going to rely on QR payments for her next trip – to Singapore next March for the Taylor Swift concert.

    E-paymentsIndonesiaBank IndonesiaAsean BusinessAsean

    TRENDING NOW

    SIA said macroeconomic and geopolitical developments, including the Middle East conflict, continue to add uncertainty to the airline industry’s operating environment.

    SIA sinks into the red with S$76 million Q1 loss as fuel costs jump

    National Development Minister Chee Hong Tat noted that the public housing market has seen a moderation in resale flat prices over the past few quarters, following multiple rounds of cooling measures as resale prices surged.

    15-month wait-out curb lifted for private property owners buying HDB resale flats

    National Development Minister Chee Hong Tat says: “The best way is for the government to shape behaviours with the judicious use of market-based incentives, where possible.”

    ABSD deadline extended to up to 7 years for developers of large en bloc sites to encourage reuse of land

    Norris Road in Little India. An operator of unlicensed money remittance services for migrant workers was sentenced to jail recently.

    A ‘shadow bank’ hiding in Singapore’s Little India casts light on financial services gap

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More