Indonesia vs United States · Real-time payment systems compared
| Capability | QRIS | RTP |
|---|---|---|
| QR Code Payments | ✓ | — |
| Wallet Support | ◐ | — |
| 24/7 Availability | ✓ | ✓ |
| Cross-Border | ◐ | — |
| ISO 20022 | — | ✓ |
| Request to Pay | — | ✓ |
| Open API | ◐ | ✓ |
| Alias/Proxy | — | — |
Indonesia's national QR code standard (Quick Response Code Indonesian Standard) that unifies QR payments across banks, e-wallets (GoPay, OVO, Dana, ShopeePay), and the BI-FAST rail into a single interoperable code. Unlike most payment systems that are a single rail, QRIS is a multi-rail standard — merchants display one QR code that consumers can scan with any participating app, with settlement happening through whichever rail the consumer's app uses. Mandated by Bank Indonesia, QRIS processed 34B+ transactions in 2024 and is central to Indonesia's financial inclusion strategy for its 17,000-island archipelago.
The first modern US instant payment system, operated by The Clearing House (owned by 22 of the largest US banks). RTP launched in 2017 and supports credit transfers up to $1M with immediate finality — no chargebacks or returns. It also offers Request for Payment (RfP) messaging for bill pay and invoicing. While FedNow provides Fed-backed infrastructure, RTP has a head start with broader bank connectivity and higher transaction limits, and processes the majority of US instant payment volume today.