The Effect of Qris Transaction Volume and Nominal Value on Indonesia's Economic Growth for the Period 2020-2024
DOI:
https://doi.org/10.32815/jpro.v7i1.2934Keywords:
QRIS, transaction volume, nominal value, economic growth, IndonesiaAbstract
This study examines the effect of QRIS transaction volume and nominal value on Indonesia's economic growth from 2020 to 2024. The rapid increase in QRIS usage, reaching 6.24 billion transactions worth IDR 659.9 trillion in 2024, motivated this research. A quantitative field research approach was employed, using documentation techniques from Bank Indonesia, ASPI, and BPS annual reports. Multiple linear regression analysis with SPSS 25 was conducted. The results show that QRIS transaction volume and nominal value do not have a significant effect on Indonesia's economic growth during the study period. The R-square value of 0.045 indicates that only 4.5% of economic growth variation can be explained by both variables, while 95.5% is influenced by other factors. These findings suggest that the substitution effect dominates QRIS transactions, primarily relocating existing transactions rather than creating new economic activity.
References
Ali, M. F., & Sendjaja, T. (2025). The Use of QRIS as a Digital Transaction Innovation: Literature Review. Indonesian Multidisciplinary Journal, 4(1), 924–931.
Aminah, S. (2023). The Effect of Using the Quick Response Indonesia Standard (QRIS) Payment System on the Development of MSMEs in Polewali Mandar Regency. University of West Sulawesi.
Azzahra, F. A. A. (2024). The Effect of Using the Indonesian Standard Quick Response Code (QRIS) and the National Payment Gateway (GPN) on the Velocity of Money in Indonesia for the Period 2020-2022. Raden Intan State Islamic University Lampung.
Bank Indonesia. (2019). Bank Indonesia Issues QRIS Implementation Regulations. Bi.Go.Id. https://www.bi.go.id/id/publikasi/ruang-media/news-release/Pages/Bank-Indonesia-Terbitkan-Ketentuan-Pelaksanaan-QRIS.aspx
Bank Indonesia. (2020). Quick Response Code Indonesian Standard (QRIS). Bi.Go.Id. https://www.bi.go.id/id/fungsi-utama/sistem-pembayaran/ritel/kanal-layanan/qris/default.aspx
Bank, W. (2021). Global Economic Prospects. In Diverging Recoveries. Diverging Recoveries.
BPS. (2023). Indonesia's Economic Growth in (Issue 15).
BPS. (2024). Statistics Indonesia 2024. BPS.
BPS. (2025). Official Statistics News. https://www.bps.go.id/id/pressrelease/2025/11/05/2478/ekonomi-indonesia-triwulan-iii-2025-tumbuh-5-04-persen--y-on-y-.html
Desfikasari, A., Andriany, V., & Hardisa, M. P. (2024). The Influence Of Social Media And Social Influence On The Decision To Use QRIS As A Digital Payment Tool. The 1st International Student Conference on Economics and Business Excellence (ISCEBE) 2024, 1(1), 298–304.
Fadhilah. (2025). Digitalization of payment systems and its impact on financial inclusion in Indonesia. Journal of Economics and Business, 02(02), 13–18.
Fisher, I. (1991). The Purchasing Power of Money. Liberty Fund.
GoodStats. (2025). QRIS Usage Continues to Increase, Transaction Value Reaches IDR 659 Trillion. Data.Goodstats.Id. https://data.goodstats.id/statistic/penggunaan-qris-terus-meningkat-nominal-transaksi-capai-rp659-triliun-cc2r8
Hali, A., Sadiah, H., Dewi, Z. D., Syahputra, M. Z., Desilva, V., & Nuraya, A. S. (2025). Digitalization of QRIS, BI-Fast, and APBN in Supporting Indonesia's Monetary and Fiscal Policies. Journal of Economics, Management and Business (JEMB), 4(1), 258–266.
Hardiyanti, M., & Santosa, S. (2024). The Impact of QRIS Use on Digital Economic Development for MSME Actors. Journal of Economics, Management, Accounting, 4(1), 171–179.
Ministry of Finance. (2023). The Contribution of MSMEs to the Indonesian Economy. Djpb.Kemenkeu.Go.Id. https://djpb.kemenkeu.go.id/kppn/lubuksikaping/id/data-publikasi/artikel/3134-kontribusi-umkm-dalam-perekonomianindonesia.html
Khairani, N., Saragih, A. Y., Panggabea, W. N., Juan, O., & Manihuruk, G. (2025). The Effect of QRIS on the Operational Efficiency of MSMEs in the Era of Digital Transformation: A Literature Study. Journal of Social Science Research, 5(3), 6764–6774.
Khumairo, H., Hersiyah, & Mashudi. (2025). The Role of MSMEs in Driving Economic Growth and Income Equality in. Journal of Economics, Management and Business, 3(1), 22–32.
Maran, P. K. A., Ballo, F. W., & Bolang, R. T. C. (2024). Analysis of ICOR and Strategies to Enhance Investment Attractiveness in Indonesia for the Period 2020-2024. Journal of Economics and Social Sciences, 2023–2034.
Maulida, S. (2024). The Real Impact of BSPI 2025: Driving a New Era of Digital Payments. Iesp.Ulm.Ac.Id. https://iesp.ulm.ac.id/dampak-nyata-bspi-2025-mendorong-era-baru-pembayaran-digital/
Narbuko, C., & Achmadi, A. (2021). Research Methodology (Edition). PT Bumi Aksara.
Oktavia, K., Teguh, H., & Arsyah, D. (2023). The Impact of Non-Cash Payments on Economic Growth in Indonesia from 2011 to 2021. 6.
Pangestika, N. A. (2021). Analysis of the Impact of Non-Cash Payment Systems on Indonesia's Economic Growth from 2009 to 2021. UNIVERSITAS ISLAM INDONESIA.
Perbanas. (2024). Surge in QRIS Transactions in 2024: Annual Growth and Its Impact on the Digital Economy. Perbanas.Org. https://perbanas.org/publikasi/artikel-perbanas/lonjakan-transaksi-qris-di-2024-pertumbuhan-tahunan-dan-dampaknya-pada-ekonomi-digital
QRIS Interactive. (2025). Surge in QRIS Transactions: Understanding the Digital Payment Revolution in Indonesia. Qris.Interactive.Co.Id. https://qris.interactive.co.id/homepage/blog-detail.php?lang=id&page=MjEz-pertumbuhan-transaksi-qris-yang-melonjak-memahami-revolusi-pembayaran-
Ridlo, M. R., Wulandari, N. R., Mawardi, & Albab, U. (2025). Analysis of the Effectiveness of Using QRIS for Payment Transactions in Promoting Digital Economic Development (Case Study of Gen Z Customers in Bandar Lampung) Muhammadiyah University of Lampung, Indonesia, various sectors, one of which is the system. Scientific Journal of Management and Entrepreneurship, 4(2), 295–317.
Rogers, E. M. (1962). Diffusion of Innovations. In Free Press of Glencoe.
Romer, P. M. (1990). Endogenous Technological Change. The Journal of Political Economy, 98(5).
Rosyda. (2025). Understanding Economic Growth: Characteristics, Factors, and Measurement Methods. Gramedia.Com. https://www.gramedia.com/literasi/pelaku-ekonomi/
Sari, I. P. (2024). Adoption of Qris (Quick Response Code Indonesian Standard ) through a Strategy to Increase the Financial Literacy of UMKM Players in the City of Solo. Indonesian Journal of Interdisciplinary Research in Science and Technology (MARCOPOLO), 2(6), 931–942.
Setiawan, I. M. P., & GP, N. M. (2025). Digitalization of Transactions with QRIS: Analysis of Student Consumption Levels in the Modern Era Intan Maharani Putri Setiawan1 , Nailah Muzdalifah GP2 Bandung State Polytechnic. Wahana Pendidikan Scientific Journal, 11 (6.D), 131–141.
Simanjuntak, B., Putri, A. P., & Syahidah, A. W. (2024). Efficiency of Using the Indonesian Standard Quick Response Code (QRIS) in Supporting Sales in the Digital Era. Indonesian Legal Media, 2(4), 332–340.
Sugiyono. (2019). Quantitative, Qualitative, and R&D Research Methods. Alfabeta.
Supriyantony, E. (2024). Analysis of the Efficiency of Indonesian Public Works Infrastructure Development: An ICOR Approach. Journal of Economics and Business, 4(1), 19–30.
Tarumingkeng, R. C. (2025). The Role of ICOR in Indonesia's Digital Economic Development. RUDYCT e-PRESS.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Annisa Desfikasari, Vicy Andriany, Mariana Puspa Dewi, Mohammad Aliman Shahmi
This work is licensed under a Creative Commons Attribution 4.0 International License.
The copyright of the article belongs to the author without any restrictions.
