Non-cash payments are currently emerging as the world’s technology advances. Not to mention because of the current COVID-19 pandemic, the non-cash transactions are excellent option because they are deemed more practical and hygienic.
Due to the high level of digital transactions use, various payment methods have also emerged, one of them is QRIS, which makes it easy for offline businesses to facilitate your customers’ needs by switching to digital transactions. With the Indonesian Standard of QR Code by Bank Indonesia (QRIS BI), business owners are able to accept various types of non-cash payments so that transactions are faster.
Interestingly, QRIS can also be used for online business transactions. Just scan the QR code, enter the nominal payment, the transaction can be completed quickly as long as there is an internet connection.
Let’s read the following article to find out more of how QRIS payments work to make business transactions easier!
What is QRIS?
QRIS is a QR code designed by Bank Indonesia as a digital payment standard for every business owner who provide payments using QRIS. With the Indonesian Standard of Quick Response Code (QRIS), all QRIS payment transactions can be done with one QR code since everything is integrated in one system. This has also been regulated in PADG No.21/18/2019 about QRIS as an International Standards for Payments, so that digital transactions become safer, faster, and more practical.
QRIS Payment Options
Do you know that QRIS has two types of payment, which are Static QR Code and Dynamic QR Code? These two types are divided based on the type of QR and its use.
Static QR Code is a fixed QR code (it cannot be changed) and contains a link to a fixed web page. This static QR is suitable for offline or retail payments because the transaction nominal is input by the customer manually when making payments so the confirmation is also done manually.
In contrast to that, the Dynamic QR Code can be changed in real-time so that the QR Code will be different for each transaction. For example, you make a transaction on an online business website. With the Dynamic QR Code, the transaction amount will be available automatically when you are about to scan. Due to the dynamic/unique nature of
QR, the system can use this data to check and verify if the payment has been made. Transaction record will also be organized in order and the risk of human error will be reduced.
How much does the QRIS cost?
QRIS requires a fee in every transaction. Surely, this transaction fee has been approved by Bank Indonesia so that the costs incurred are the same for all businesses. In order to get an idea of the transaction fees issued by QRIS, let’s compare the costs required for other digital wallets in one transaction.
QRIS: 0.7% of the nominal amount of shopping / transaction
Gopay: 2% / transaction
OVO, LinkAja, Funds: 1.5% + 0.15% (VAT) / transaction
ShopeePay : 1.5% / transaction (ShopeePay MDR will change to 2% starting March 2022)
From the data above, it can be seen that the rates offered by QRIS are more affordable so that merchants will not be burdened by a high transaction fee.
How to Use QRIS
Before implementing the QRIS payment method to your business, merchants need to collaborate with an app provider who provide a payment option using QR code. Once the collaboration is set and approved, QRIS can be used at all merchants who collaborate with payment system service providers, such as various banks that have facilitated m-banking (BCA, Mandiri, CIMB, etc) and various e-wallets (OVO, Gopay, ShopeePay, etc). With just one QR code, business owner can accept all payment methods according to customer’s choice.
Benefits of using QRIS for Merchants
By providing a variety of non-cash payment methods, business owners can increase sales traffic so as to generate maximum profits. In addition, switching to an online business makes cash management smaller, your business does not need to give change so it minimalizes the risk of loss due to lost/counterfeit money.
Now, have you got a better understanding about QRIS payment method? With a single scan of the QR Code, you can provide convenience to customers by accepting payments through various e-money channels. Click here for more information about the QRIS payment method
If you have an online store, don’t forget to integrate your website with a payment gateway so that your business has a variety of automated payment methods which surely makes transactions more practical and faster. You can use Duitku Payment Gateway to enjoy the convenience of a quick, neat, and secured business transactions.
Duitku has been licensed by Bank Indonesia and equipped with a PCI-DSS security system, so let us take care of your transactions!