Electronic payment provider from China, Alipay, set up a cross border e-wallet with two state-owned banks, said the deputy governor today. The two lenders are PT Bank Mandiri Tbk (BMRI) and PT Bank Rakyat Indonesia Tbk (BBRI).

In this collaboration, the banks will become an acquirer, while Alipay as an issuer. The collaboration was an implementation of BI’ Quick Response Indonesia Standard (QRIS).

With the cooperation, Bank Mandiri and Bank Rakyat Indonesia can support Alipay’ operation in Indonesia. Its because the central bank requires the settlement process of electronic money (e-money) transactions in the country must be carried out by local banks in BOOK IV scale.