April 21, 2025 | 04:57 pm
TEMPO.CO, Jakarta - Bank Indonesia (BI) has responded to the United States' complaints regarding the Quick Response Code Indonesian Standard (QRIS) payment system, which is considered a barrier to trade between the U.S. and Indonesia.
According to Destry Damayanti, Deputy Governor Senior of BI, Indonesia's collaboration with other countries on QRIS or other fast payment methods depends on the country's willingness, including the U.S.
"So we do not discriminate. If the U.S. is ready, we are ready, why not?" Destry said to reporters during a Financial Education event for Indonesian Migrant Workers at the Dhanapala Building, Jakarta, on Monday, 21 April 2025.
Destry stated that, until now, the use of Visa and Mastercard, which come from the U.S., is still dominant in Indonesia. "Until now, credit cards such as Visa and Mastercard are still dominant. So, there is actually no problem," she said.
However, she did not reveal further steps Bank Indonesia would take regarding the U.S. complaints.
In the document National Trade Estimate Report on Foreign Trade Barriers 2025, published on March 31, 2025, the United States Trade Representative (USTR) noted several tariff and non-tariff barriers faced by the U.S. with its trading partners, including Indonesia. The use of QRIS was also highlighted.
The report mentioned that U.S. banks and payment service providers were not involved when Bank Indonesia formulated policies regarding QRIS. "International stakeholders were neither informed of the nature of the potential changes nor given an opportunity to explain their views on such a system, including how it might be designed to interact most seamlessly with existing payment systems," wrote USTR.
Aside from QRIS, USTR also highlighted other barriers such as complex import licensing, local content requirements, and inadequate intellectual property protections. This document was issued a few days before President Donald Trump announced tariff policies.
Currently, the negotiation process between the Indonesian government and the U.S. government to respond to the tariffs is ongoing and targeted to be completed within the next 60 days.
Editor's Choice: Indonesian Gov't Outlines Results of Negotiations Over Trump's Import Tariffs
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