Supporting the Development of Digital Economy in Indonesia, Jalin and LinkAja Expand the Implementation of Cross Border QRIS to Malaysia

JAKARTA, May 8, 2023 - PT Jalin Pembayaran Nusantara (“Jalin”) cooperated with PT Fintek Karya Nusantara (“LinkAja”) to expand the implementation of cross-border QR Code Indonesian Standard (QRIS) through the interconnection of QR codes between Malaysia and Indonesia.

Such implementation constitutes a follow-up to the agreement in 2021 related to the use of QR Code technology on LinkAja’s application for cross-border payments made in Jalin’s Link Network. In practice, LinkAja acts as Issuer and Acquirer, while Jalin acts as a switching institution in Indonesia. Previously, in August 2022, Jalin and LinkAja implemented cross-border QRIS services in Thailand.

Jalin’s President Director, Ario Tejo Bayu Aji, said that the ‘Switching to Switching’ collaboration model was used for the implementation of Cross Border QRIS. As a result, Jalin will be connected with the switching in Malaysia by using API (Application Programming Interface) and standard messaging in the integration process. The Settlement process will be conducted using the LCS (Local Currency Settlement) method through ACCD (Appointed Cross Currency Dealer) Banks.

The cooperation was launched as part of the Indonesian Digital Economy and Finance Festival (FEKDI) 2023 in line with the theme of ‘Synergy and Innovation of Digital Economy: Fostering Growth’. This synergy is expected to have a positive impact in the effort to implement secure, efficient, cutting edge, and competitive regional payment systems,” added Ario.

Similarly, LinkAja’s Director of Marketing, Muhammad Rendi Nugraha, appreciated the excellent coordination and collaboration between Jalin and LinkAja in the implementation of the cross-border QRIS service in Malaysia and Indonesia.

“We greatly welcome this strategic cooperation as it is in line with our objectives in expanding the digital ecosystem to drive financial inclusion. This synergy is expected to accelerate economic growth in the tourism sector. In addition, it is also expected to facilitate the transaction of users, both in Indonesia and Malaysia. In the future, along with Jalin, we will continue to expand the implementation of cross-border QRIS in other countries, after LinkAja as the acquirer and issuer officially implemented cross-border QRIS in Thailand."

For your information, QRIS transactions processed by Jalin increased significantly as much as 700% in certain periods such as 2023 Ramadan and Eid al Fitr. Jalin sees this as a very positive trend in which the Company continuously supports Bank Indonesia's target to increase the number of QRIS users by 15 million to reach a total target of 45 million users by the end of 2023.

Jalin plays a role in connecting all QRIS users in Malaysia and Indonesia. As such, the interconnection of QR Codes between the two countries is expected to result in more transactions, thereby driving national economy and assisting the growth of the tourism sector and Micro, Small, and Medium Enterprises (MSMEs), particularly in Indonesia. Collaboration with LinkAja is a manifestation of Jalin's commitment to developing digital payment innovation in Indonesia and becoming a bridge for Indonesia’s financial literacy and inclusion by expanding financial service access to everyone.

Apart from further cooperation with LinkAja, Jalin also extended cooperation for the implementation of domestic QRIS services at FAKDI 2023 on May 9-10, 2023 with various banks and fintech companies in Indonesia, including PT Bank Mandiri Taspen (Bank Mantap), PT E2Pay Global Utama (E2Pay), and PT GDC Multi Sarana (GDCPay).