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Indonesia eyes global markets for MSMEs with QRIS

The Indonesian Coordinating Ministry for Economic Affairs states that the Quick Response Code Indonesian Standard (QRIS) can aid micro, small, and medium enterprises (MSMEs) in reaching international markets and enhancing financial inclusivity. Mohammad Rudy Salahuddin, the ministry’s deputy for digital economy, employment, and MSME coordination, expressed hopes that QRIS will enable MSMEs to conveniently sell products to foreign tourists, primarily from Southeast Asia. Indonesia has partnered with Singapore, Malaysia, Thailand, and the Philippines, allowing tourists from these countries to make purchases using QRIS. MSMEs, which constitute 99% of Indonesia’s economic business units and contribute 60.5% to the GDP, are a government priority, with ongoing efforts to digitise MSME payments in collaboration with private sector companies.


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