Article

Bolstering financial inclusion

QR Payment in Indonesia

Making financial services available and affordable to the public can lead to increased economic activity and growth. Research has shown that platforms easily accessible to everyone, regardless of their income, and tightly integrated into the financial fabric of the society, pave the way for inclusive growth.

In this paper, published in collaboration with FinTech Indonesia, we explore the methodologies and models for mobile payment transaction enabled through QR Code with the objective of promoting financial inclusion and a cashless society in Indonesia. We also look into QR Payment applications and regulations across different markets. The study is part of a larger research which aims to understand the underlying technology, regulations, and risks which are involved in the use of QR Codes. The paper also covers payment methods and use of payments in Indonesia.

Finally, the paper introduces three different scenarios that explore possible insights on the governance of innovation and adoption of technology to serve the goals of achieving financial inclusion and developing a cashless society in Indonesia.

Bolstering financial inclusion in Indonesia
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