Ayoconnect
Indonesia-based open finance API platform offering payment gateway, direct debit, instant transfer, virtual cards, PPOB, and income verification services through single-API integration, serving 140+ financial institutions and 200+ businesses across Southeast Asia.
- Company typePrivate
- Founded2015
- HeadquartersJakarta, Indonesia
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Ayoconnect does
Ayoconnect is an Indonesia-headquartered open finance API platform that provides payment and banking infrastructure to financial institutions and enterprises across Southeast Asia through a single API integration. The company offers a modular product suite including payment gateway, recurring payment and direct debit, instant transfer, Mastercard-powered virtual card issuance, PPOB (1,000+ digital products across 24+ categories), embedded lifestyle products, autobilling, and real-time income verification using bank account, phone number, and National Identity Number (NIK). Core payment rails run on Bank Indonesia's BiFast real-time network and Mastercard infrastructure. Ayoconnect holds a Category 1 Payment Services Provider license from Bank Indonesia, is registered with OJK and Kominfo, and is PCI DSS certified, enabling it to serve licensed financial institutions.
Ayoconnect firmographics
Firmographics- Name
- Ayoconnect
- Legal name
- PT Ayoconnect Group
- Website
- https://ayoconnect.id
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Indonesia-based open finance API platform offering payment gateway, direct debit, instant transfer, virtual cards, PPOB, and income verification services through single-API integration, serving 140+ financial institutions and 200+ businesses across Southeast Asia.
- Ownership category
- akta.pro rank
Ayoconnect industry classification
Industry- Product category
- Open Banking & Payment Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)
- akta.pro primary industry
- Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK)
- akta.pro secondary industries
- Billing, Subscription & Revenue Management Infrastructure (FSAGABAM), Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails) (FSAGABAJ)
Keywords
Where Ayoconnect is headquartered
LocationHeadquarters
- HQ city
- Jakarta
- HQ country
- Indonesia
- HQ region
- Asia
Offices1 record
Markets served
Ayoconnect business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Payment Processing / Transaction Fees: Revenue generated from payment processing services including payment gateway, recurring payments, instant transfers, and virtual card transactions. Fees likely charged per transaction or as a percentage of transaction volume.
- API Services / Licensing: Revenue from providing API access to open banking and payment services. Companies integrate Ayoconnect's technology via single API for payment collection, fund transfers, and digital products.
- Digital Products (PPOB): Revenue from integration of 1,000+ digital products and bill payments across 24+ categories. Includes embedded lifestyle products and autobilling solutions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Enterprise API Services - Custom pricing based on transaction volume and integration requirements |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Ayoconnect product offering
Product offeringCore offering
Ayoconnect is an Indonesia-based open finance API platform that provides payment and banking infrastructure to businesses and financial institutions through a single API integration. Its product suite includes payment gateway, recurring payments/direct debit, instant transfers, virtual Mastercard card issuance, digital products/PPOB, embedded lifestyle, autobilling, and income verification services powered by BiFast and Mastercard infrastructure.
Product overview
Ayoconnect is an Indonesia-based open finance platform offering a comprehensive suite of financial technology solutions through API integration. The platform operates on a modular architecture with core payment infrastructure products (Payment Gateway, Recurring Payment/Direct Debit, Instant Transfer, and Virtual Cards) supported by supplementary modules including PPOB (Digital Products), Embedded Lifestyle, Autobilling, and Income Verification. The solutions are powered by BiFast for real-time payment switching and Mastercard for virtual card issuance, serving over 200 businesses across Southeast Asia including banks, fintechs, e-commerce platforms, and financial institutions.
Differentiator
Problem solved
Functional benefit
Products and services
- Payment Gateway Core payment gateway solution enabling businesses to accept and process various payment methods securely through a unified API integration.
- Recurring Payment / Direct Debit Account-based payment collection solution enabling businesses to collect recurring, one-time, or variable payments from customer bank accounts. Powered by BiFast for real-time processing.
- Instant Transfer Instant fund transfer solution enabling real-time disbursement to one or multiple bank accounts at low cost for single and bulk transactions. Powered by BiFast.
- Virtual Cards / Card Issuance Virtual Mastercard card issuance solution allowing businesses to issue branded virtual cards for customers or employees without physical card costs. Powered by Mastercard and BiFast.
- PPOB (Payment Point Online Billers) Digital products and bill payment solution integrating 1,000+ digital products and bill payments across 24+ categories through a single API.
- Embedded Lifestyle Lifestyle products offering with customization options to support business profit growth, integrated within the PPOB solution.
- Autobilling Solution Automated bill payment solution that streamlines payment collection and operational efficiency by automating recurring billing processes.
- Income Verification Real-time income verification solution enabling secure verification of a person's income using bank account, phone number, and National Identity Number (NIK) to assess financial capacity.
Quantifiable outcome
- Launch new financial products and services in weeks with minimal coding
- +2 more outcomes
Companies that use Ayoconnect
Customer profileNamed customers13 records
Segments3 records
Ideal customer profiles3 records
Ayoconnect technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
Feature8 records
Ayoconnect partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered strategic and core.
- PT Wibmo Services IndonesiastrategicPartnership to secure digital payments across Southeast Asia through combined technology capabilities. Wibmo provides payment security solutions integrated with Ayoconnect's open finance platform.
- Wibmo ServicesstrategicStrategic partnership between Wibmo Services and Ayoconnect to secure digital payments across Southeast Asia, combining Ayoconnect's open finance API with Wibmo's payment security technology.
- BiFastcoreBiFast is a real-time payment network integrated into Ayoconnect's platform, enabling instant transfers and direct debit services. Powered by BiFast for recurring payments and instant transfer solutions.
- MastercardcoreMastercard powers Ayoconnect's virtual card issuance solution, enabling businesses to issue virtual cards with their own branding through Mastercard's network.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Ayoconnect competitors and assessment
Company assessmentDirect peers
- Xendit: Indonesia and Southeast Asia-focused payment gateway offering API-based payment infrastructure for enterprises. Closest direct competitor to Ayoconnect with overlapping payment processing, disbursement, and virtual account products serving similar merchants and financial institutions.
- Midtrans: Indonesian payment gateway (subsidiary of GoTo/GoPay) providing payment processing, virtual accounts, and credit card processing through APIs. Directly competes with Ayoconnect's payment gateway and recurring payment products for Indonesian merchants and super-apps.
- DOKU: One of Indonesia's earliest payment gateway providers offering online payment processing, virtual accounts, and e-wallet aggregation. Competes with Ayoconnect on payment gateway and disbursement services for Indonesian enterprises.
- Brankas: Indonesia and Southeast Asia open banking API platform offering financial data aggregation, payment initiation, and identity verification. The most direct open banking peer to Ayoconnect, competing in the same regulatory and infrastructure layer.
- Flip: Indonesian B2B payment platform originally focused on corporate disbursements and interbank transfers, expanding into broader payment infrastructure. Overlaps with Ayoconnect's instant transfer and disbursement products.
- TrueLayer: Europe-based open banking API platform offering bank connectivity, payments initiation, and financial data services. Closest global functional analog to Ayoconnect's open banking stack, useful as a product/business-model comparable.
Emerging players
- Finmo: Singapore-headquartered payment orchestration platform serving Southeast Asia, focused on cross-border treasury and multi-rail payment routing. Emerging direct competitor to Ayoconnect's payment orchestration capabilities, particularly for cross-border SEA flows.
- Verihubs: Indonesian fintech infrastructure provider focused on identity verification, KYC, and eKYC APIs. Adjacent peer competing with Ayoconnect's income verification and identity-related API offerings for similar Indonesian enterprise clients.
Broad incumbents
- Plaid: Global leader in open banking/financial connectivity APIs with much larger scale and broader product footprint. Provides the most established analog to Ayoconnect's open banking API business at significantly larger scale.
- Stripe: Global payment infrastructure platform offering processing, issuing, and treasury APIs. Larger incumbent with overlapping payment-orchestration and card-issuance capabilities relevant to Ayoconnect's API-first model.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
Ayoconnect social profiles
Digital presenceAyoconnect compliance and trust
Trust signalCompliance4 records
Ayoconnect financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ayoconnect leadership team
Management profileNumber of profiles
Profiles6 records
Ayoconnect funding detail
Funding detailFunding overview
Funding rounds9 records
Investors18 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ayoconnect M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ayoconnect
What does Ayoconnect do?
Ayoconnect is an Indonesia-based open finance API platform that provides payment and banking infrastructure to businesses and financial institutions through a single API integration. Its product suite includes payment gateway, recurring payments/direct debit, instant transfers, virtual Mastercard card issuance, digital products/PPOB, embedded lifestyle, autobilling, and income verification services powered by BiFast and Mastercard infrastructure.
Is Ayoconnect a public or private company?
Ayoconnect is a private company. It is classified as venture growth investor backed and is currently operating.
When was Ayoconnect founded?
Ayoconnect was founded in 2015. It employs 101 to 250 people.
Where is Ayoconnect based?
Ayoconnect is headquartered in Jakarta, Indonesia, in the Asia region.
How does Ayoconnect make money?
Three revenue lines are on record. Payment Processing / Transaction Fees are the primary driver. The others are API Services / Licensing and digital Products (PPOB).
Who are Ayoconnect's main competitors?
Direct peers on record are Xendit, Midtrans, DOKU, Brankas, Flip and TrueLayer. Emerging players are Finmo and Verihubs. Broad incumbents are Plaid and Stripe.
Does Ayoconnect have an API?
Yes. Ayoconnect offers Open Banking API and Payment Service API enabling developers to build financial products with minimal coding. Full-stack open banking and payment technology available through single API integration. API documentation and library available for developers to explore. Developer documentation is at www.ayoconnect.com/api-documentation.
What industry is Ayoconnect in?
Ayoconnect's product category is Open Banking & Payment Infrastructure. Its primary akta.pro industry code is FSAGABAK, Cross-Border FX, Multi-Currency & Treasury for Payments, with a secondary code of FSAGABAM, Billing, Subscription & Revenue Management Infrastructure. Its NAICS code is 52232.