{
    "success": true,
    "data": {
        "id": 1830575,
        "msgid": "singapore-adopts-indonesias-qris-model-seven-years-behind-1782741148",
        "date": "2026-06-29 19:40:00",
        "title": "Singapore Adopts Indonesia's QRIS Model, Seven Years Behind",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Technology",
        "summary": "Singapore has announced plans to unify its fragmented digital payment systems under 'PayNow Generation 2', adopting a single QR code model pioneered by Indonesia's QRIS in 2019. The move is seen as an indirect acknowledgement of the Indonesian system's success, which already serves over 30 million merchants. The Monetary Authority of Singapore aims to launch a pilot by late 2026, integrating the currently separate PayNow and NETS QR codes.",
        "content": "<p>Singapore is taking a major step in developing its national digital\npayment system by adopting a model Indonesia pioneered seven years ago.\nThrough the \u2018PayNow Generation 2\u2019 programme officially announced last\nweek, the city-state plans to implement a single QR code similar to\nIndonesia\u2019s QRIS, which has been operational since 2019.<\/p>\n<p>Deputy Prime Minister and Chairman of the Monetary Authority of\nSingapore (MAS), Gan Kim Yong, stated that Singapore will launch a pilot\nproject by the end of 2026. With this update, users of apps supporting\nPayNow will be able to scan and pay using NETS QR codes displayed by\nmerchants, eliminating the current confusion of choosing a compatible\napp.<\/p>\n<p>The four main focuses of the upgrade are QR code interoperability,\nsimplification of online payments, increased transaction limits for\ngovernment services, and expanded cross-border connectivity.<\/p>\n<p>This is no coincidence. Since its launch by Bank Indonesia, QRIS has\nproven itself to be the most inclusive and practical payment system in\nSoutheast Asia. The core of QRIS is a single QR code readable by all\ndigital wallet and banking apps operating in Indonesia. This eliminates\nthe confusion of seeing multiple different QR codes at a single\nbusiness, an experience that also greatly assists foreign tourists.<\/p>\n<p>This is the model Singapore is now adopting. Previously, Singapore\u2019s\npayment ecosystem was divided into two separate channels, PayNow and\nNETS, each with its own QR code that was not mutually compatible. By\nfollowing the QRIS pattern, Singapore aims to remove these barriers for\nconsumer convenience and merchant efficiency.<\/p>\n<p>Digital economy analysts assess that this decision serves as an\nindirect acknowledgement from a developed nation of the quality of\nIndonesia\u2019s payment system. QRIS\u2019s advantages have also been widely\ntested. By mid-2026, QRIS was used by more than 30 million merchants and\n45 million active users across Indonesia and has been connected\ncross-border with Singapore, Malaysia, Thailand, and other countries.\nSince November 2023, QRIS has been integrated with SGQR in Singapore,\nmaking it easier for Indonesian tourists to transact there.<\/p>\n<p>Beyond unifying QR codes, PayNow Generation 2 also adopts the\nsimplification of online payment processes, as already implemented in\nmany Indonesian QRIS services. Users will no longer need to save\nscreenshots of QR codes to complete a payment. \u2018When payment systems\nbecome faster, interconnected, and data-rich, everyone benefits,\u2019 said\nGan Kim Yong.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/singapore-adopts-indonesias-qris-model-seven-years-behind-1782741148",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}