More payment methods

Virtual Accounts

Enhancing Financial Control and Management

Indonesian Virtual Accounts is a payment method that allows processing payments in Indonesian rupiah by using cash, bank accounts, and payment cards in Indonesia. This method is the most popular Indonesian alternative payment method that requires the customer to transfer funds to a virtual bank account via a banking mobile application, internet banking, or physically via ATM.

% of coverage
  • Country

    Indonesia

  • Population

    277.5 million (estimated)

  • Number of Internet users

    221.5 million (estimated, early 2024)

  • Popular payment methods

    Digital wallets, Debit Cards, Credit Cards, Bank Transfers, Cash Payments

% of coverage
  • Credit Card

    5%

  • Debit Card

    30%

  • Digital Wallets

    35%

  • Cash Payments

    20%

  • Bank Transfers

    8%

  • Other

    2%

Payment Method Overview
  • Type:Digital Wallet
  • Currency:Multi-currency
  • % of coverage:25% of online banking users globally (estimated)
  • Money transfers to date: 1 billion USD (estimated)
  • Total customers:> 12 million (estimated)
  • Refunds:Yes
  • Chargebacks:Yes, limited, assessed on a case-by-case basis

About payment system

Virtual accounts represent a modern approach to managing financial activities by providing users with dedicated accounts that serve specific purposes. These accounts are often linked to a user’s primary bank account and can be created quickly and conveniently through digital platforms offered by financial institutions or third-party service providers.

Businesses often utilise virtual accounts to segregate funds for different departments, clients, or projects. This segregation enhances financial organisation, simplifies reconciliation, and reduces administrative complexities. Additionally, virtual accounts are commonly used for collecting payments from customers, vendors, or partners, offering an efficient way to track and manage incoming funds.

Individuals can also benefit from virtual accounts by using them to allocate funds for specific goals, such as saving for a vacation or managing monthly expenses. Virtual accounts offer a digital solution to budgeting and financial planning, empowering individuals to take control of their finances and achieve their financial objectives.

Virtual accounts contribute to the digitization of financial processes, eliminating the need for physical paperwork and reducing the risk of errors associated with manual tasks. Their versatility, customization options, and ease of use make them an appealing choice for businesses and individuals seeking to optimize financial management in an increasingly digital world.

Read all
Payment flow

The customer selects Visa as their payment option and enters their credit card details to complete the payment.

Payment methods that also might be interesting

Payfix

Payfix

Payfix: Discover payment solutions worldwide

Payfix is a digital payment account popular in Turkiye. Discover other payment solutions at spoynt.com

Diners Club

Diners Club

Credit/Debit card

Diners Club International, often simply known as Diners Club, is a charge card company.

TED

TED

Online banking

TED is an electronic payment method used in Brazil.

Paysera

Paysera

Online banking

Paysera is an innovative fintech company that provides an array of online payment solutions.

DANA

DANA

Digital wallet

DANA is a prominent mobile payment platform originating from Indonesia.

mastercard

Mastercard

Credit/Debit card

Mastercard is a global leader in payment and technology services.

Fortumo

Fortumo

Mobile money

Fortumo is a leading provider of carrier billing and mobile payment solutions.

Logo (1)

Vipps

Vipps: Discover payment solutions in Norway

Vipps is Norway's leading mobile payment app, originally launched in 2015 by DNB. It allows users to make secure peer-to-peer transfers, pay for goods and services online, and settle group expenses with ease.

M Pesa

M-Pesa

Mobile money

M-Pesa is a groundbreaking mobile money service introduced by Safaricom.

GO PAY png

GO-PAY

GO-PAY: Discover payment solutions in Indonesia

GoPay is a digital payment platform operating in Indonesia. Discover other payment solutions at spoynt.com

Show all payment methods
Pricing

Pricing request

Our fare pricing is designed to bring satisfaction to both sides of our partnership. The pricing structure is tailored to your specific business type and monthly turnover. Kindly send us a request, including details about your business, and our dedicated success manager will promptly get back to you with our best offer.