The Korea Times
Travelers from Korea can now pay in Indonesia by scanning their smartphones, bypassing currency exchange lines and foreign transaction fees as a new cross-border QR payment system goes live. The Bank of Korea said Wednesday that it launched a QR-based payment linkage with Indonesia, allowing users to make purchases by scanning local codes with their existing financial apps. The rollout follows a memorandum of understanding signed in July 2024 between the Bank of Korea and Bank Indonesia to connect the two countries’ payment systems. The service is initially available through the Korea Financial Telecommunications and Clearings Institute, in partnership with Woori Card and KB Kookmin Bank. Officials said additional financial institutions and payment platforms — including Shinhan Bank, Woori Bank, Hana Bank, Shinhan Card, KB Kookmin Card, GLN and Travel Wallet — will be added in phases. Using the system, Korean users can pay at more than 32 million merchants across Indonesia that support the country’s standardized QRIS payment network, simply by scanning a code within their usual b
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