SlotQris: Meaning, How it Works, and a Series of Benefits

Payment technology continues to evolve and provide more efficient, practical, and secure solutions for consumers and business owners. One of the latest innovations in the world of payments is QRIS.

With the presence of the QRIS payment method, transactions are now easier, faster, and safer.

It is no wonder that QRIS is currently increasingly used as an alternative payment method at various merchants , both online and offline, since it was launched by Bank Indonesia and the Indonesian Payment System Association (ASPI) on August 17, 2019.

So, what is QRIS and how does it work?

In this article, we will understand in depth about QRIS!

What is SlotQris?

The term QRIS is an abbreviation of Quick Response Code Indonesian Standard .

In Indonesia, QRIS has now become the national standard for QR ( Quick Response ) code-based payments.

The definition of QRIS is the standardization of payments using the QR Code method from Bank Indonesia (BI) so that the transaction process with this QR code becomes easier, faster, and more secure.

You can use QRIS using a smartphone simply by scanning the code using a mobile banking application or e-wallet application that complies with BI's national standards.

Not only consumers benefit, business owners can also accept payments without having to provide expensive physical payment devices.

**How SlotQris Works

**

The presence of QRIS makes transactions using digital payments easier, more practical, and more efficient.

So, how does QRIS work to allow various types of QR codes to be used in payment transactions? Here's the explanation:

**Generate QR Code

**

In essence, the way QRIS works as a payment medium is by implementing a QR code scanning process .

Merchants who accept payments via QRIS will provide a QR code in the form of a two-dimensional barcode consisting of three square patterns and a black module.

This code will later be scanned by consumers who want to make payments using a smartphone via a payment application that is compatible with QRIS.

*Consumer Scans Code
*

This QR code scanning process uses 2 usage models, namely:

1. Merchant Presented Mode (MPM): Customers scan QRIS on stickers, information boards or screens provided by merchants . Customers can scan directly via mobile phones. Consists of Static MPM (customers input the nominal themselves) and dynamic MPM (payment nominal no longer needs to be entered manually because it is already listed).

2. Customer Presented Mode (CPM): merchants scan QRIS from customers' smartphones . However, QRIS CPM is currently still in the trial phase at some merchants .

After a successful transaction, both the merchant and the consumer receive a notification stating that the payment was successful.

**Verification and Authorization

**

After the payment is made, the payment application that provides QRIS will verify and authorize the transaction.

Later, the QRIS service provider will process the transaction, allocate funds from the consumer account to the merchant account, and send a payment confirmation.

As is known, the funds paid do not go directly into the merchant's account. Generally, the QRIS transaction disbursement process will enter the merchant's account at the earliest 1-3 working days after settlement is made.