New QRIS Features Can Be Used This Month, Learn How to Transfer, Withdraw Cash, and Deposit Cash

Dream - Bank Indonesia (BI) has updated the services that can be used by customers when using the Quick Response Code Indonesia Standard (QRIS). The new feature is the ability to send money (transfer), withdraw cash, and deposit cash, known as QRIS TUNTAS.

The implementation of the new QRIS feature, which can be used this month, has undergone a series of trials over the past two years. However, BI has not specified the specific date when the new feature will take effect.

With this new feature, people can now use QRIS TUNTAS when they cannot find an ATM. People can also transact through QRIS agents throughout Indonesia. 

Benefits of the New QRIS Feature

BI explains that the presence of the QRIS TUNTAS feature will provide three benefits to its users. First, optimizing funding sources to be used for various activities, not only savings but also adding the function as electronic money.

The second benefit of QRIS TUNTAS is to improve interconnection and interoperability. With the presence of the TUNTAS feature, QRIS can be used between banks, banks and non-banks, as well as non-banks with non-banks.

Meanwhile, the third benefit expected from this new feature is to encourage financial inclusion. BI hopes that the QRIS TUNTAS feature can be used in 3T areas (Underdeveloped, Frontline, and Outermost regions).

So, how do you transfer, withdraw cash, and deposit cash using QRIS? Here's how.

QRIS Transfer

The QRIS transfer feature allows users to transfer funds to other QRIS users using QR codes, both between Payment Service Providers (PSP) banks and PSP banks and non-banks. Here's how:

- Scan the QRIS code that has been generated by the recipient first, then select the funding source

- Make sure the amount of funds to be transferred is correct

- Enter the PIN

- After that, the user will receive a notification that the transaction has been successful.

QRIS Cash Withdrawal

Users can withdraw cash by scanning the QRIS code on an ATM or QRIS merchant that acts as an agent or partner for cash withdrawal.

One advantage of this feature is that users can withdraw cash from ATMs without having a specific bank account. For example, you can withdraw cash from a non-bank PSP Electronic Money (UE) account. Here's how:

- Go to an ATM or QRIS merchant that acts as an agent and inform the amount of cash to be withdrawn

- Scan the QR code displayed by the ATM or QRIS merchant

- Then select the funding source, and make sure the amount of funds is correct

- Enter the PIN, then the balance will be transferred to the merchant's account

- After a successful transaction, the merchant will hand over the cash

QRIS Cash Deposit

The third feature is QRIS cash deposit, which allows users to make cash deposits using QRIS codes. 

The push payment method is used, where the depositor shows their QRIS code to the scanning device on the Cash Deposit Machine (CDM/ATM) or QRIS merchant that acts as an agent or partner for cash deposits. Here's how:

- Simply visit an ATM or QRIS merchant that can accept cash deposits.

- Then inform the amount of cash to be deposited.

- Followed by inserting the cash into the ATM or handing the cash to the agent.

- Next, scan the QR code displayed by the ATM or agent.

- After that, you will receive a notification that the transaction has been successful.

This feature is very useful for users who want to deposit cash into a bank (or into a non-bank PSP Electronic Money account), but are hindered by the distance to the ATM or limited banking hours.

Source: Bank Indonesia