On February 5, 2026, Bank Indonesia (BI) and Bank of Korea (BOK) reviewed the progress of the cross-border QR-based payment service interlinkage and agreed to continue close cooperation going forward.

This QR payment interlinkage represents the outcome of bilateral cooperation that began with discussions in 2023 and was followed by the signing of a Memorandum of Understanding (MOU) in July 2024. In particular, the QR payment interlinkage is expected to make payments easier and more efficient for visitors to both countries by being combined with the Local Currency Transaction (LCT) framework between Korea and Indonesia, which has been in effect since September 2024. Through this linkage, foreign exchange and transaction fee burdens are expected to be reduced, thereby contributing to the facilitation of real-sector economic exchanges such as trade, tourism, and consumption between the two countries.

The Korea–Indonesia cross-border QR payment service is scheduled to become available at merchants in both countries starting in April 2026. In addition, the two central banks agreed to continue discussions and cooperation to explore further enhancements of the cross-border QR payment service, including the expansion of QR-based payment features and wider usability across different payment environments.

Re-disseminated by The Asian Banker