QRIS-based payments enjoyed a significant increase since Bank Indonesia instructed to used QRIS as the national QR code standard in 2020. With the existence of QRIS, it is also easier for business players to cater to customers who make cashless transactions from various banks and e-wallet services. Register QRIS once online, and cashless transactions will be quicker and more practical.
QRIS (Quick Response Code Indonesian Standard) is a national QR code standard that can facilitate digital payments from various platforms. It is a digital-based cashless transaction invention from Bank Indonesia (BI) and the Indonesian Payment System Association (ASPI).
The payment types of QRIS
At the moment, we can find four types of QRIS payments in the community. The four services are MPM (Merchant Presented Mode), CPM (Customer Presented Mode), TTM (No Face to Face), and Cross Border (Cross Border) – which have just officially launched.
Here is the summary:
There are two types of MPM, namely static MPM and dynamic MPM. On the surface, those two are hard to differentiate because the displayed QRIS code image for payment comes from the merchant. The difference lies in the process of how the merchant’s QRIS code image is displayed. In short, a static QRIS code image is a fixed image, while a dynamic QRIS code image is changeable for each transaction that occurs. Therefore, the static QRIS MPM is suitable for small and medium-sized businesses, while the dynamic QRIS MPM is suitable for companies with high transaction volumes.
CPM is the opposite of MPM. The scanned QRIS code image to complete the transaction is the image of the customer’s QRIS code that appears on the device. Business players can scan the QRIS code image using a scanner provided by the QR code payment provider. QRIS CPM is suitable for medium to high-end businesses that have more capital and have high transaction volumes.
TTM is a feature that complements QRIS innovation that allows scanning the QRIS code image stored in the smartphone gallery to complete users’ transactions. That way, buyers can complete online transactions without meeting face-to-face with business players to scan the QRIS code image and complete the payment.
Cross Border is one of the collaborative initiatives to create standardization of settlement infrastructure for cross-border trade, remittances, retail payment systems, and capital markets. That way, Indonesians can make payments abroad by simply scanning a QR code. Vice versa, foreign tourists can make payments by scanning a QRIS code image using an application that they usually use and supports QRIS. In the early stages, the QRIS Cross Border was pre-launched officially on August 17, 2021, and is available in Thailand.
How to register a QRIS merchant for business players
The QRIS payment method can be used by various levels of business, from street vendors, MSMEs to shops in shopping centers. Based on records at Bank Indonesia, there are currently 62 Payment System Service Providers (PJSP) that support the QRIS payment method. The registration process also can be done with ease online for business players who want to register their merchants (businesses/stores) to rBusiness players can register QRIS easily online by preparing the following documents to simplify the verification process. eceive QRIS payments.
Here are some steps to follow to register a QRIS merchant:
- Make sure you already have a bank account or e-wallet service account that supports QRIS. If you don’t have an account yet, please open one first by coming to the branch office or registering online at one of the QRIS PJSPs on this list https://aspi-indonesia.or.id/information-qris.
- Complete the data and documents requested by the PJSP, both personal and business data.
- Wait for the verification process, creating a Merchant ID, and printing the QRIS code by PJSP.
- PJSP will send a sticker or supporting device to print or scan the QRIS code.
- Install the application specified by PJSP as a QRIS merchant.
- PJSP will educate merchants on the procedures for receiving QRIS payments before starting operations to accept QRIS payments.
Supporting document files for the verification process requested by PJSP will vary depending on the type of business registered. In general, five types of ventures can register to receive payments using QRIS.
The following are five types of businesses that can be registered and the supporting documents:
|Individual||Business Entity (PT or CV)||Education||Gas stations and the like||Donations / Foundations / NON-PROFIT Institutions|
|An ID card image file according to the name of the business owner||An ID card image file according to the name of the business owner||An ID card image file according to the name of the person in charge of the institution||An ID card image file according to the name of the business owner||A PIC ID card image file (Authorized Person)|
|Family Card number according to ID card||Family Card number according to the registered ID card||Family Card number according to the registered ID card||Family Card number according to the registered ID card||Family Card number according to the registered ID card|
|A Company Deed image file according to the name of the business entity||The Deed of Establishment of the Institution image file according to the Name of the Institution||A Company Deed image file according to the name of the business entity||Registration form that must be signed|
|The company Taxpayer IdentificationNumber image file according to the name of the business entity||Taxpayer Identification Number of the institution image file according to the name of the business entity||The company Taxpayer Identification Number image file according to the name of the business entity||Power of Attorney (According to the ID card given by the power of attorney)|
|Image File of Original Power of Attorney (If you are a representative appointed by the Business Entity).||Image file of Original Power of Attorney (if you are a representative appointed by the institution)||Image File of Original Power of Attorney (If you are a representative appointed by the Business Entity).||Power of Attorney must contain the name of the PIC (Authorized Person) according to the provided ID card. The Power of Attorney must sign on Stamp 6000. Then it is filled in manually and wet signed.|
|Note: Make sure the account number used is in the name of the Foundation.|
Register QRIS now to make cashless transactions more practical
QRIS is one of the answers to the challenge of accessing digital transactions that can be used easily by various levels of society and efficiently. With QRIS, business players now only need to have one QR code to facilitate one of the cashless payment methods. Meanwhile, customers can use any application that supports QRIS code images as payments to complete the transaction. That way, cashless transactions can become more practical, both for business players and customers.
Besides being practical to use, QRIS can also protect business players from circulating counterfeit money that can harm their business. Transaction history through QRIS is also automatically recorded to make it easier for business players to monitor, analyze, and determine the business financial strategy to be taken.
With all of the QRIS benefits, the easy registration process, what are you waiting for again?
If you have a start-up business and are interested in registering as a merchant that can accept QRIS payments, this is the right time to join.
Technology will continue to change and move forward without waiting for your business to achieve success first. The best thing you can do is embrace change in order to adapt and remain relevant.
So, what are you waiting for, #AyoDaftarQRIS now so that your cashless business transactions can be even more practical!