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Bank Indonesia (BI) Governor Perry Warjiyo during a BI Webinar with CNBC Indonesia, on Friday (February 11, 2022). (ANTARA/Agatha Olivia) - 

Bank Indonesia (BI) has increased the transaction limit for the Quick Response Code Indonesian Standard (QRIS) from Rp10 million to Rp20 million per transaction.

"We have just decided to double the QRIS limit, from previously it was just increased to Rp.10 million, now it is Rp20 million per transaction," BI Governor Perry Warjiyo informed during a BI Webinar with CNBC Indonesia here on Friday.

In 2022, transactions using QRIS are targeted to increase by 15 million from 12 million transactions in 2021, he said.

He also revealed that QRIS transactions can now be carried out between countries, such as Thailand, Malaysia, and several others.

According to Warjiyo, various expansions of QRIS are part of the 2025 National Payment System Blueprint Vision launched in May 2019.

To this end, it is hoped that all parties can support digitalization efforts by using QRIS in their daily activities, he said.

Aside from QRIS, another BI effort for digitizing payments has been the BI-FAST launched in December 2021, he added.

"BI-FAST replaces the National Clearing System of Bank Indonesia (SKNBI). Thus, it is really powerful because it runs 24 hours in seven days and never sleeps," the BI Governor remarked.

Earlier, deputy governor of Bank Indonesia (BI), Doni P. Joewono, revealed that the number of partner merchants utilizing QRIS had reached 13.6 million as of late December 2021.

Meanwhile, in 2021, transactions performed using QRIS reached a value of Rp27.7 trillion, a growth of 237 percent year on year, he noted.

"The COVID-19 pandemic has encouraged the use of digital technology for various economic and financial transactions," Joewono said at the 'International Seminar on Digital Financial Inclusion,' on February 2, 2022//ANT