Indonesia vs Japan · Real-time payment systems compared
| Capability | QRIS | Zengin |
|---|---|---|
| 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.
Japan's domestic interbank clearing network, one of the oldest electronic payment systems in the world, connecting over 1,000 banks. Originally batch-only; upgraded to 24/7 real-time in 2018 via the More Time System. Underpins consumer real-time transfers in every Japanese bank's mobile app, any-bank ATM transfers, and the bank-funding legs of major consumer wallets (PayPay, LINE Pay, Rakuten Pay, au PAY). Operated by the Japanese Bankers Association with settlement through the BOJ. Note: data includes all Zengin transactions (real-time and batch-processed).