Regulatory Alerts2019-08-21
Regulation of Board of Member of Governors Number 21/18/PADG/2019 on Implementation of National Standard on Quick Response Code for Payment
The Board of Member of Governors of Bank Indonesia issued Regulation Number 21/18/PADG/2019 to mandate the use of the Quick Response Code Indonesian Standard (QRIS) for all domestic retail payment transactions. This regulation establishes technical specifications, transaction limits, and fee structures while requiring Payment System Service Providers and Switching Agencies to obtain prior approval from the central bank. It also sets a compliance deadline of December 31, 2019, for existing QR Code Payment users to adjust their systems to the new national standard.
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