Instant Payment Adoption and Merchant Credit Access in Indonesia: Evidence from QRIS Expansion

Abstract

This article examines whether Indonesia’s rapid diffusion of instant payments, proxied by QRIS expansion, can improve merchant credit access and through which channels. Using a systematic literature review of peer-reviewed journal studies, we synthesize evidence on QR-based adoption, merchant persistence, and how transaction data supports MSME financing. The findings converge on four drivers of sustained use: perceived usefulness, ease of use, trust, and facilitating conditions. Interoperability and lower cash- handling and reconciliation frictions strengthen merchant participation and encourage regular, traceable payment flows. Direct evidence on credit outcomes is thinner, but points to a data pathway: frequent and continuous payment trails can reduce information asymmetry and enable cashflow-based assessment, especially for merchants with high transaction intensity and adequate digital readiness. We frame these patterns as an ecosystem link from payment standardization to credit inclusion, emphasizing usage quality and continuity over adoption counts. Overall, QRIS is most credit-relevant when transaction histories are dense, reliable, and responsibly integrated into lending design.