CIMB Niaga: QRIS Transactions in the First Quarter Reach IDR 3 Trillion

Armfalcon.com, JAKARTA — CIMB Niaga Consumer Banking Merchant Business Head Tamtomo Awansatrio revealed, during the first quarter of 2023, the value of transactions through acquiring CIMB Niaga’s QR Code Indonesian Standard (QRIS) broke the IDR 3 trillion mark. This value has grown threefold compared to the first quarter of 2022.

He said one of the drivers for the growth of transaction value was because currently the majority of customers prefer to make non-cash transactions. This condition is also in line with the increasing number of cross-border payment options.

“We can receive QRIS from all wallets, such as OVO, Gopay, DANA, from CIMB Niaga’s QRIS. (In the first quarter) this increase tripled to Rp. 3 trillion,” he said at the “CIMB Niaga Banking Journalist Class” Training Event at Bogor, on Thursday (25/5/2023).

Tamtomo explained that currently the average volume of QRIS transactions at CIMB Niaga has reached 60 thousand transactions every week. Meanwhile, the amount merchants there were 400 thousand registered in the first quarter of 2023 or a growth of 30 percent compared to the same period last year.

Therefore, he considers that the prospects for transactions using QRIS are very bright. In fact, the company has prepared various ways to seize this opportunity.

“We have recruited as many as we can merchants whether it is SMEs or corporations. Because big corporations like malls in the future may still have EDC, but there’s QRIS,” he said.

CIMB Niaga will also expand acceptance and acquisitions, including the OCTO Merchant application which is intended for home industry business groups. “So, people who have businesses on social media, if they want to take part in bazaars and the like, they are no longer confused about accepting non-cash transactions,” said Tamtomo.

This year, he said, CIMB Niaga targets the total transaction value through QRIS to grow 200 percent and grow 30 percent for merchants, compared to last year. CIMB Niaga became the bank implementing cross-border QR in August 2022 with Thailand.

Even though transactions are not that high, CIMB Niaga is optimistic that the potential for these transactions will continue to increase. CIMB Niaga also facilitates QR payment transactions inbound cross border for tourists to workers from China who use the AliPay digital wallet and WeChat Pay on merchants partners in Indonesia.