Livin’ by Mandiri Introduces Cross-Border QR Feature in South Korea
PT Bank Mandiri Tbk. (BMRI) has introduced the Cross-Border QR feature on the Livin’ by Mandiri app, which is now available in South Korea.
SVP of Digital Retail Banking Group at Bank Mandiri, Yanto Masyap, stated in Jakarta on Wednesday that this step represents an integrated synergy between the financial industry and regulators in building a globally connected payment system.
It also forms part of Bank Mandiri’s contribution to supporting the government’s efforts in strengthening digital economic sovereignty and national competitiveness.
Through this feature, customers can make transactions at various merchants in South Korea simply by scanning QR codes that meet the QRIS standard, without needing to exchange cash.
Yanto continued that this development demonstrates the ongoing superiority of Livin’ by Mandiri as a digital platform that continuously adapts to customer needs.
Previously, the Cross-Border QR service has been available in Malaysia, Singapore, Thailand, and Japan, showing Bank Mandiri’s consistency in expanding global connectivity.
“This innovation aims to provide convenience for customers in transacting abroad. Through the development of this feature, we want to ensure that customers can transact more easily and comfortably in various international destinations,” said Yanto.
In addition to payment convenience, Livin’ by Mandiri also offers flexibility in funding sources, from savings accounts to Mandiri credit cards.
This provides greater control for customers in managing their finances while abroad, while also creating value for society through increased inclusion and digital financial literacy.
To complement financial needs, the bank with the golden ribbon logo also provides multi-currency account opening services in Korean won (KRW), which can be linked to Mandiri Debit.
As of February 2024, Livin’ by Mandiri has recorded solid performance with more than 38.5 million users and a total transaction value reaching Rp802 trillion.
QRIS adoption continues to increase, as reflected in the QR Pay feature users reaching 9.2 million, or growing 23 percent year-on-year, with transaction values up 43 percent to Rp38.9 trillion.
Meanwhile, the Cross-Border QR service shows more aggressive growth, with the number of users increasing 23 percent (year-on-year) to 13,000 and transaction values surging 52 percent (year-on-year) to Rp37.4 billion.
Looking ahead, Bank Mandiri will continue to expand the reach of Cross-Border QR to other international destinations as part of its commitment to delivering adaptive and relevant digital innovations.
“This step also strengthens the company’s contribution to driving the acceleration of an inclusive and sustainable national digital economy,” Yanto concluded.