Bank Indonesia and the Bank of Korea are in final preparations for the April 2026 launch of a cross-border QR code payment link that will allow travelers in both countries to pay at local merchants using their domestic mobile payment applications. The initiative was confirmed during a high-level meeting between the governors of both central banks on 5 February 2026, advancing a memorandum of understanding originally signed in July 2024.
The service will connect Indonesia's QRIS, the unified QR code standard that underpins the country's retail digital payment ecosystem, with South Korea's domestic QR payment infrastructure. Indonesian visitors to South Korea will be able to scan Korean merchant QR codes and pay using their Indonesian banking apps, with settlement handled through the bilateral payment corridor. Korean visitors will similarly be able to pay at QRIS-enabled merchants across Indonesia.
A distinguishing feature of the arrangement is its integration with the Local Currency Transaction framework between the two countries, which enables settlement in Indonesian rupiah and South Korean won rather than converting through the US dollar. This structure is expected to reduce foreign exchange conversion costs and transaction fees, particularly for small-value retail purchases, food and beverage spending, and local transportation.
The connection represents the sixth cross-border corridor for QRIS, following linkages with Malaysia, Thailand, Singapore, Japan, and China. Bank Indonesia has signaled further expansion plans, with India and Saudi Arabia among the next markets being evaluated for cross-border QR payment connectivity.
Tourism flows between the two countries provide a clear demand driver. According to the Korea Tourism Organization, 365,596 Indonesians visited South Korea in 2025, a record high. The payment link is designed to serve this growing travel corridor by eliminating the need for currency exchange at the point of sale. For South Korea, the arrangement adds to the country's expanding network of cross-border digital payment agreements across the Asia-Pacific region.