BRICS members China and Indonesia launched a de-dollarization drive that will officially go live from April 30, 2026. Both countries have agreed to use QRIS Payments for cross-border settlements, and the mechanism will be officially launched next week. The project is rolled out by Bank Indonesia (BI) to reduce dependency on the US dollar. This will change the way travelers pay while visiting both countries for business and tourism.
Under the agreement between BRICS members China and Indonesia, Chinese travellers to Indonesia will be able to use compatible payment systems in the country. Also, when Indonesians travel to China, they will be able to make payments using QRIS. Therefore, local currencies will take priority for travelers and not go through the hassle of carrying US dollars for transactions.“Basically, both the technical and business aspects are ready for implementation,”said BI Deputy Governor Filianingsih Hendarta.
The launch will come after a successful trial from both the BRICS countries, which are keen to advance the de-dollarization agenda. QRIS stands for ‘Quick Response Code Indonesian Standard’, introduced by BI to usher in digital payments in the country. The modus operandi is simple: customers scan a QR code with any payment app, and the money goes through the bank seamlessly.
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Hendarta revealed that in the trial phase, 1.64 million transactions were initiated, worth $32 million. “Hopefully, on April 30, 2026, we will be able to officially launch it. Even during the trial phase alone, transaction volume reached 1.64 million transactions with a value of Rp 556 billion ($32 million),” she said. The numbers would drastically increase after the launch, giving the BRICS de-dollarization agenda a major boost.“The positive performance was supported by growth in the number of users and merchants,”said Bank Indonesia Governor Perry Warjiyo.
Source: Watcher Guru
