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JAKARTA – Bank Syariah Indonesia (BSI), the country’s largest Islamic lender, is preparing to roll out cross-border QRIS payment services in Saudi Arabia, a move designed to ease financial transactions for millions of Indonesian pilgrims traveling for Hajj and Umrah.
The initiative marks a significant step in BSI’s ambition to become a global player in Islamic digital finance.
A Digital Lifeline for Pilgrims
Every year, more than 1.5 million Indonesians journey to Saudi Arabia for religious pilgrimages.
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Traditionally, they rely heavily on cash, which poses risks of theft and inconvenience.
With QRIS, pilgrims will be able to pay for food, lodging, and transportation simply by scanning a QR code, with transactions automatically converted from rupiah to riyal.
BSI President Director Hery Gunardi emphasized that the service is not only about convenience but also about security and financial inclusion.
“We want to ensure that Indonesian pilgrims can focus on their spiritual journey without worrying about carrying large amounts of cash,” he said during a recent briefing.
Expanding the QRIS Footprint
BSI’s QRIS services are already available in Malaysia, Singapore, Thailand, Japan, South Korea, and China.
The Saudi Arabia expansion represents a strategic milestone, given the country’s central role in global Islamic tourism.
Merchant Network: Over 574,000 merchants connected. Transaction Volume: More than 24.2 million transactions, totaling Rp1.7 trillion.
Digital Ecosystem: The BYOND super app, launched in November 2024, has attracted 6.55 million users, processing 199 million transactions worth Rp223 trillion.
Aligning with Saudi Vision 2030
Saudi Arabia has been aggressively pushing digital transformation under its Vision 2030 program, which aims to reduce reliance on cash and modernize financial services.
BSI’s QRIS integration dovetails with this agenda, offering a ready-made solution for cross-border payments.
For Saudi merchants, the system opens access to a vast pool of Indonesian customers.
For Indonesia, it strengthens bilateral financial ties and showcases the country’s fintech capabilities on the global stage.
BSI is not alone in this race. Other Indonesian banks, including BNI and Mandiri, have also expanded QRIS services abroad, particularly in China.
The competition underscores the growing importance of cross-border digital payments in Southeast Asia’s financial ecosystem.
Despite the promise, hurdles remain. Regulatory alignment with Saudi financial authorities will be critical, as will merchant adoption.
Transparency in currency conversion rates and transaction fees will also determine user trust.
Still, analysts believe the potential is enormous.
With millions of Indonesian pilgrims traveling annually, QRIS adoption in Saudi Arabia could generate billions in transaction value while cementing BSI’s reputation as a pioneer in Islamic digital banking.
BSI’s move to bring QRIS to Saudi Arabia is more than a technological upgrade it is a cultural and financial bridge between two of the world’s largest Muslim populations.
If successful, it could redefine how Indonesian pilgrims experience their sacred journeys, turning smartphones into secure wallets and positioning BSI at the forefront of global Islamic fintech.
