Learn how QRIS works as a simple and fast payment option

Have you ever paid for QRIS? Surely you feel for yourself that this payment method is simple and fast. Now, even you no longer need to carry bulky wallets or cash on the go. Just bring your mobile phone, open the e-wallet or mobile banking app, then scan and the direct payment will be completed in seconds.

But, have you ever wondered how QRIS actually works? How can it be with just one code, all payment applications can be used? Well, without lingering, here's a simple and easy-to-understand explanation of how QRIS works!

How QRIS works is simple and fast

QRIS as a digital payment instrument has an integrated system so that the process can be fast. Here's an explanation of how it works!

1. Buyer scans QRIS code

Process Transactions with QRIS starts when the buyer opens a payment application such as e-wallet or mobile banking, then do scan on a QRIS code available at the store or place of payment.

2. Data reading system merchant

After in-scan, the QRIS code will be read by the system. The code contains important information such as your name. mercantile, account number, and payment service provider used. Indeed QRIS advantages It's practical because you don't have to spell out account numbers one by one.

3. Buyer enters nominal and confirmation

If using static QRIS, the buyer needs to enter the payment face first. However, if you use dynamic QRIS, the advantages usually appear automatically. After that, the buyer only needs to enter a PIN or confirmation of payment.

4. Transactions are processed by the bank system

Once confirmed, the transaction will be processed through a system that has been integrated and regulated by Bank Indonesia. It is this system that connects the buyer's bank and the seller's bank.

5. Successful payment and incoming notifications

Within seconds, the payment is complete and the notification comes instantly. Although it looks simple, notifications Real-time this is important to ensure the transaction is completely successful and avoid the risk of payment errors.

If in e-wallet this feature is already common, in credit cards not all of them exist yet. Therefore, you can choose a credit card such as Honest Card that has transaction notifications Real-time in the Honest App, so every payment can be monitored instantly.

Submission Honest credit card very practical because it can be done in a few minutes through the application, with a quick approval process. The credit limit is flexible and can rise gradually up to IDR 100 million. In addition, this card is a QRIS credit card equipped with cashback and various promotions, as well as flexible bill payment options can be paid in full or in installments according to financial conditions. From the security side, the physical card is also without a number (Numberless), so it's safer to use. Honest credit cards are practical, and safe to use.

How widespread is the use of QRIS?

The current use of QRIS has been very extensive and can be used in various types of places and services. From MSMEs, food stalls, cafes, retail stores, traditional markets, parking, transportation, to donation payments and public services, all of them have used QRIS.

In fact, the standard QRIS created by Bank Indonesia This is not only applicable in Indonesia, but can also be used for cross-border transactions through cross-border QR payment cooperation. Currently, QRIS can already be used in several countries such as Thailand, Malaysia, Singapore, and the Philippines, so travelers from Indonesia can make payments with just a scan without the need to exchange cash. This makes QRIS one of the practical digital payment methods because its reach is not only national, but also starting internationally.

Nah, that was an explanation of how QRIS works and how widely it is used. Now you don't have to be confused about how this payment tool works, so you don't have to hesitate any longer when you're going to use it.

Frequently Asked Questions (FAQ):

1. What are the main components in QRIS transactions?

For transactions using QRIS, there must be 3 main components, namely the seller (merchant), buyer (cliente), and Payment Services Organisers (PJP).

2. What is the one-code-for-all principle in QRIS transactions?

The meaning of one code for all in a QRIS transaction means that one QR code installed in the store can be scanned (scan) by any payment application that is legal in Indonesia, so that nope need to provide additional QR codes from different providers.

3. Is QRIS safe to use for transactions?

QRIS has good security standards because its systems already use industry-standard data encryption. Each transaction process will require PIN authentication or biometric features in the user's application.

4th. Whether payments through QRIS go directly to the account merchant?

No. Funds will come in first as balance merchant. After that, the funds will be transferred to the account merchant which are listed according to the schedule established by the PJP.

5. Do buyers incur MDR fees during QRIS transactions?

No, the buyer will not be charged any additional fees when transacting using QRIS. MDR Cost (Merchant Discount Rate) charged only to merchants (merchant).