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Bank Indonesia Inaugurates the Latest QRIS Feature, Facilitating Cash Withdrawals and Deposits Via Merchant QR Code Scanners

Just a soft launch, DANA has become a digital wallet from non-bank PJP that has started using QRIS TTS

Bank Indonesia together with the Indonesian Payment System Association (ASPI) inaugurated the newest QRIS innovation feature, named QRIS Transfer, Cash Withdrawal and Cash Deposit (QRIS TTS) per Friday (25/11). DANA is a digital wallet that represents non-bank Financial Service Providers (PJP) as demo participants soft launch QRIS TTS.

This new feature innovation from QRIS makes it easier for users to make cash withdrawals and cash deposit transactions by simply scanning the QRIS code at QRIS merchant partners. Meanwhile, through QRIS transfers, users can also easily make transfers between PJP, simply by scanning the QRIS code on each user's PJP application.

As an illustration of its use, at the launch in Bali, the Governor of Bank Indonesia Perry Warjiyo through the DANA application managed to receive money from the Chairperson of ASPI Santoso simply by showing QRIS in the DANA application which was then scanned by the application mobile banking BCA. This shows that QRIS TTS offers more precise procedures, digital transactions that are easier to reach, and opens the way for people to enter the digital ecosystem.

Contacted separately by DailySocial.idHead of Bank Indonesia's Payment System Policy Department (DKSP) Group, Fitria Irmi Triswati, explained that the development of features and business models for QRIS is continuing to accelerate digital economic and financial inclusion and create a payment system that is fast, easy, cheap, safe and reliable (CEMUMUAH). .

"So the goods are the same, namely QRIS. TTS is one of the new development features soft launch yesterday," said Fitria.

As an illustration, he continued, at the start of the launch of QRIS in 2019, BI launched the QRIS feature with the Merchant Presented Mode (MPM) business model, in which users/consumers scan QRIS displayed at merchants using a payment application. There have been many developments since then, there are QRIS features without face-to-face (TTM), QRIS Consumer Presented Mode (CPM) and most recently the QRIS feature between countries with Thailand, Malaysia and Singapore.

He explained one by one features of QRIS TTS this. For the transfer feature, the sender will scan the recipient's QR to commit peer-to-peer transfer. For QRIS TTS with the cash withdrawal feature, the user will scan the QR belonging to the TTS agent to transfer money and then the TTS agent will give cash, or the user will scan the QR at the ATM to withdraw money from the ATM.

"QRIS TTS with the cash deposit feature, the TTS agent will scan the user's QR to transfer funds to the user and then the TTS agent will receive cash from the user. For these three features, fees are charged to the user sending, withdrawing money, and depositing money."

Meanwhile, for DANA, implementing the QRIS TTS system allows users to make transfers between PJP and receive cash with withdrawal transactions from partners. In addition to cash withdrawals, users can top up their balances by depositing a certain amount of cash with partners and scanning the QRIS TTS listed.

To DailySocial.id, a DANA representative said that currently the QRIS feature has not been fully released for all merchants. When the full version is released, it is hoped that all DANA merchants who already have QRIS can certainly do QRIS TTS. "Please note that currently the feature is still soft launch, so that later under the approval of Bank Indonesia, this feature can be enjoyed by [merchant] users," said the DANA representative.

Fitria continued, when the QRIS TTS is released in full, the PJP who is already a participant may develop or not, depending on their respective readiness. The most important thing is that they previously had to meet the TTS standard specifications and if indeed they intended to develop their business with QRIS TTS.

"For this reason, they must also submit approval for this new feature to Bank Indonesia," he said.

QRIS feature set

This QRIS innovation was developed by the central bank together with ASPI and PJP in the context of implementing the 2025 Indonesian Payment System Blueprint which started in 2019. In fact, four QRIS innovations have so far been launched. Here's the summary:

1. Merchant Presented Mode (MPM)A. Static MPM Provided by merchants and static, it's better suited for small businesses. Usually, the printed QR code is placed at the cashier because its function is for payment transactions. Consumers only need to choose which payment application to use and scan the QR code. The merchant name will appear on the smartphone screen, then enter the payment amount, enter the PIN and click pay. Transaction notifications will immediately be received by consumers and merchants.

B. MPM Dynamic In this innovation, the QR code will always change based on every transaction made. Consumers go to the cashier, then they will issue a QR code from the EDC machine. Next, consumers scan the QR code through the payment application on their smartphone and the nominal will appear automatically. This type is suitable for medium and large scale merchants or those with high transaction volumes.

2. No Face to Face (TTM) This is a feature that allows users to make transactions by simply scanning images stored QR code in smartphone gallery. Thus, consumers do not need to meet directly with the seller to make payments. The presence of this feature is an alternative and complements the choice of remote payment methods that allow users to use one application on the smartphone.

3. Customer Presented Mode (CPM) Consumers only need to show the QRIS that is displayed from their payment application to be scanned by the merchant. QRIS CPM is more aimed at merchants who require high transaction speed, such as transportation, parking, and modern retail providers.

The verification and payment process at CPM is considered safer for consumers because they only need to show the QR code from their smartphone without the need to enter a nominal value manually. The verification of this code will then be scanned by the merchant to process the transaction.

4. International QRIS (Cross-border QR) Payment transactions with QRIS can be used by foreign tourists to shop at tourist attractions in Indonesia. Conversely, Indonesian tourists can also shop by scanning the QR code if visiting ASEAN countries such as Thailand, Singapore and Malaysia.

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