OTTO Cash Becomes QRIS-Based International Payment Electronic Money

Armfalcon.com, JAKARTA — OTTO Cash electronic money offers payment services based on the Quick Response Code Indonesian Standard (QRIS) between Indonesia, Thailand and Malaysia.

“This service allows OTTO Cash users to transact with scans QR code which there are various supermarketrestaurants, to shopping centers in the Land of White Elephants and Neighboring Countries,” said Director of PT Transaction Artha Gemilang Denny Dilham in a written statement, Thursday (11/5/2023).

After scanning the QR code, users can immediately make payments with the rupiah currency balance contained in the OTTO Cash electronic money.

Denny said, through this service, users get the advantage of being able to transact in non-cash at a cheaper exchange rate. For the merchantsis expected to help boost the economy in the region.

Interconnection of payments between countries can also expand the market for local business actors who are members of OTTO Cash merchants by accepting transactions directly from payment applications found on the devices of tourists from Thailand and Malaysia.

“We hope that this interstate payment service can also provide added value for users, especially Indonesian workers, students and tourists in Thailand and Malaysia,” he said.

The implementation of the QRIS-based payment cooperation between Indonesia and Malaysia is a continuation of the implementation cross border payments between Indonesia and Thailand which was inaugurated in August 2022.

The QRIS-based payment collaboration is in line with the priority agenda of the 2022 G-20 Indonesia presidency, as part of strengthening Regional Payment Connectivity (RPC) to create a payment system that is faster, cheaper, transparent and inclusive.

Meanwhile, Executive Director of the Indonesian Payment System Association (ASPI) Djamin Edison Nainggolan added, electronic money issuers OTTO Cash and other payment service providers that have met QRIS standards are taking advantage of the momentum of economic revival after the Covid-19 pandemic.

“So that it can help business actors in the micro, small and medium business segment in Indonesia to accept digital payments originating from sources of funds in foreign currencies, namely Thai baht and Malaysian ringgit,” he said.

Going forward, OTTO Cash is committed to be the first electronic money in implementing interconnection payments between ASEAN 5 countries (Indonesia, Malaysia, Thailand, the Philippines and Singapore) and following Japan, India and South Korea which was initiated by Bank Indonesia.

PT Transaction Artha Gemilang is a company that already has an operating license as an issuer of OTTO Cash electronic money and a fund transfer operator and QRIS organizer.