Friends who frequently travel between China and Indonesia! From now on, no need to carry cash or calculate exchange fees—just scan a QR code to pay!
Today, Manager Wang shares a great news that can save you a lot of trouble —On September 11, the cross-border QR code between China and Indonesia officially launched a two-way trial run! The central bank governors of both countries witnessed the event, making it highly reliable and directly solving the long-standing problem of spending money when traveling between the two countries!
First, let's talk about how the trial run works: For our Chinese side,invited users can open UnionPay QuickPass or Alipay, and at over39 million merchants in Indonesia that support QRIS codes, directly scan to pay; conversely, it's even more convenient for Indonesian friends to use GOPAY, ShopeePay, MyBCA, and 33 other local mainstream e-wallets to scan UnionPay or Alipay QR code merchants in China and make direct purchases, no longer needing to exchange for Chinese yuan cash.
Second, don't think this is a small cooperation—it's amajor project promoted by both governments (G2G model)! As early as January this year, UnionPay International and Ant International signed a cooperation memorandum with the Indonesian side, and later finalized agreements with four local switching networks, gradually advancing to the current pilot. Moreover, the authorities have stated thatafter the pilot, full production will be achieved within this year, so whether for business trips or tourism to Indonesia, or for Indonesian customers coming to China, payments will be seamlessly connected.
Third, the benefits of this go beyond convenience: First,using bilateral local currency settlement, we no longer need to convert to US dollars to Indonesian rupiah and then to Chinese yuan, savingexchange costs and reducing exchange rate fluctuation risks, and also helping the renminbi be more conveniently used internationally; second, it's good for merchants—Chinese merchants can attract Indonesian tourists, Indonesian merchants can retain Chinese consumers, and theeconomic, trade, and people-to-people exchanges between the two sides will surely become more vibrant.
Honestly, in the future, when going on business trips to Jakarta, traveling to Bali, or when Indonesian friends come to China for hotpot or local specialties, just take out your phone and scan—travel and shopping between China and Indonesia will become increasingly convenient.