QRIS (read, kris) stands for Quick Response Code Indonesian Standard. As the name, QRIS is a standardization effort by Bank Indonesia (BI) for all companies that use financial technology (fintech) such as GoPay, OVO, DANA, LinkAja, and others. According to BI, QRIS unifies various QR codes from various Payment System Service Providers (Penyelenggara Jasa Sistem Pembayaran or PJSP).
For MSMEs who understand the internet, digital technology can be used as a strategy to survive in times of crisis caused by the Covid-19 pandemic. Products or services owned by MSME actors can be marketed through social media or marketplaces. In addition, adopting a digital payment system can also be a solution for transactions in the midst of a pandemic.
Although the pandemic has hit the MSME sector quite hard, it cannot be denied that the pandemic has also become a positive momentum. For example, MSMEs can transform and enter into the digital ecosystem. The number of MSME players who use technology to survive in the midst of a crisis is not large, but the transition process shows a positive movement. Digital financial transactions continue to grow along with increased online shopping activities, expansion of digital payments, and growth in the use of digital banking (jalin.co.id).
BI noted that the number and value of transactions through QRIS, as reported by money.kompas.com, growth significant in the first week of July 2021, which coincided with the beginning of the implementation of the Emergency Community Activity Restrictions (Pemberlakuan Pembatasan Kegiatan Masyarakat or PPKM). Currently, QRIS has been utilized by around 7.7 million merchants, or 59% of the target of 12 million merchants by the end of 2021. An increase in the number of transactions by 7.63% or to 8,037,518 transactions in the first week of implementing the Emergency PPKM, while the nominal transaction reached Rp727.7 billion (id.techinasia.com).
With QRIS, it is hoped that MSME actors can also embrace digitalization which is currently happening and growing rapidly. Thus, MSME actors can survive in the midst of an uncertain situation like now and can be one of the pillars of Indonesia's economic resilience in the future. (Ruhmaya Nida Wathoni. Illustration: business-standard.com).
