Living in Bali for a while now and owning property here, I’ve had front-row seats to a quiet financial revolution. If you’re still carrying around plastic cards in Indonesia, you’re behind the curve. Almost everywhere you go—from cafes in Canggu to government offices in Denpasar—you pay with your phone. That’s thanks to QRIS, Indonesia’s universal QR-code payment system.

Launched in 2019 by Bank Indonesia, QRIS (Quick Response Code Indonesian Standard) has completely transformed daily transactions. It’s fast, seamless, and most importantly—cardless. You open your banking app, scan the QR code, confirm, and walk away. Simple. No need for Visa, Mastercard, or anyone in between.

The system isn’t just staying local, either. By now, QRIS is active in Thailand, Malaysia, and Singapore. And just recently, it was announced that starting August 17, QRIS will be available in China and Japan as well. That’s a huge leap. Indonesians will be able to pay abroad using the same system they use at home, and tourists from those countries can pay in Indonesia using their local bank apps.

So it came as no surprise when the U.S. Trade Representative called QRIS a “barrier” to American payment systems in a report published this March. They’re not wrong—just a little late. When you’ve got a frictionless interbank transfer system running on QR codes and NFC, you don’t really need the middlemen anymore. And with Visa and Mastercard’s transaction fees sometimes reaching up to 3%, it’s easy to see why Washington is worried.

But instead of resisting, maybe it’s time to rethink.

Bank Indonesia’s Governor offered a pointed but open response: “QRIS is a free-market system. Any country, including the U.S., is welcome to join.” That’s the kind of forward-thinking approach that changes industries.

I mean, imagine flying to Los Angeles from Bali with nothing but your phone—no wallet, no physical cards—and being able to pay for everything the same way you do at your local warung. That’s not a dream; that’s where this is heading.

Of course, there are still gaps. In Bali, gas stations remain one of the few places where cash is king. And for hotel bookings or deposits, credit cards are still the default. But give it time. We’re watching the slow sunset of plastic.

The more countries that join QRIS or implement their own compatible systems, the harder it will be for the old guard to keep charging their fees. And if you ask me, that’s progress. From where I sit—in my villa, where I pay my staff and shop for groceries all through QR codes—it’s already the present.