iPaymu
iPaymu is an Indonesian payment aggregator serving over 251,000 merchants through a single API integrating 140+ banks and 95% of online transaction channels, including Virtual Account, QRIS, e-wallets, credit cards, and COD, across e-commerce, FMCG, education, hospitality, and SME verticals.
- Company typePrivate
- Founded2011
- HeadquartersJakarta, Indonesia
- Headcount—
- GTM typeB2B
- OfferingSoftware
What iPaymu does
iPaymu (legally PT Inti Prima Mandiri Utama) is an Indonesian payment aggregator and gateway platform founded in 2011 by Riyeke Ustadiyanto, headquartered in Denpasar (Bali) with a regional office in Jakarta's SCBD district. The company operates a single REST API that integrates with 140+ Indonesian banks and connects merchants to what it claims is 95% of online transaction channels in the country, including Virtual Account, QRIS (dynamic and static), e-wallets (GoPay, OVO, Dana, LinkAja, ShopeePay), credit cards (VISA, Mastercard), direct debit, convenience stores (Indomaret, Alfamart, Dan+Dan, Lawson), and Cash-on-Delivery via nationwide expedition partners. iPaymu holds PSE registration with Indonesia's Ministry of Communication and Informatics and PCI DSS certification, allowing it to operate electronic payment systems and process card payments compliantly. The platform is built entirely in-house with proprietary technology, including an AI Monitoring/Fraud Detection System that processes structured transaction data in real time, an escrow account system, optional transaction insurance, and payment orchestration that auto-routes transactions when a channel is down.
iPaymu monetizes primarily through transaction fees: Rp 3.5K per Virtual Account transaction and 3% per successful COD transaction, with fees varying by payment channel. Secondary revenue streams include a one-time Integration Service fee of Rp 3,000,000 for assisted API or CMS plugin setup, a Rp 2,000/day rental for the QWIK QRIS Soundbox device, and tiered referral commissions (Rp 300-500 per transaction) paid to developers and freelancers via the ipaymu.team program. The company also runs a free POS (YesPOS), a social commerce platform for resellers (Resellr.id), a digital cooperative platform (Kooperasi), a social agent tool for Bali (HalloBali), and social media automation (Seller Bot), forming a broader ecosystem around the core payments business.
The customer base of 251,276 merchants spans e-Commerce, FMCG, Transportation, Education, Hotel & Restaurant, SME/UMKM, and Mobile App verticals, with no disclosed enterprise anchor customers and a predominantly long-tail SMB composition. Distribution combines self-serve onboarding via my.ipaymu.com, free CMS plugins for WooCommerce, Moodle, WHMCS, Prestashop, and Opencart, direct enterprise sales through consultation/meetups, and a developer/freelancer referral channel. Leadership includes Founder/CEO Riyeke Ustadiyanto, CMO & Head of Business Development Silvia Ratna Ariani, CTO & Head of Engagement IT Aubrey Gamaliel, COO & Head of Product Development Ariestaningrum, and commissioners Gita Wirjawan and Ariawan Wijaya. The company remains privately held and founder-led with no disclosed institutional funding or parent company affiliation.
iPaymu firmographics
Firmographics- Name
- iPaymu
- Legal name
- PT. Inti Prima Mandiri Utama
- Website
- https://ipaymu.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Short description
- iPaymu is an Indonesian payment aggregator serving over 251,000 merchants through a single API integrating 140+ banks and 95% of online transaction channels, including Virtual Account, QRIS, e-wallets, credit cards, and COD, across e-commerce, FMCG, education, hospitality, and SME verticals.
- Ownership category
- akta.pro rank
iPaymu industry classification
Industry- Product category
- Payment Gateway and Processing Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370), Finance Services (6199)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- Smart Routing, Cascading & Payment Optimization (FSAMACAJ), Alternative Payment Methods (APMs) Enablement (BNPL, wallets, local methods) (FSAMACAE), Billing, Payments & Subscription Management (MPAHAJAC)
Keywords
Where iPaymu is headquartered
LocationHeadquarters
- HQ city
- Jakarta
- HQ country
- Indonesia
- HQ region
- Asia
Offices2 records
Markets served
iPaymu business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Infrastructure, Marketing or Sales, Supply Chain
Revenue model
- Transaction Fees: iPaymu charges merchants a percentage fee per successful transaction. For COD transactions, the fee is 3% per successful transaction. Virtual Account pricing starts at Rp 3.5K per transaction. The fee structure varies by payment channel (bank) used for the transaction.
- Integration Services: One-time integration service fee of Rp 3,000,000 for businesses requiring assisted API integration, custom platform integration, or CMS plugin setup. Includes 3-month warranty for minor repairs/bugs.
- Referral Program Commissions: Freelancer and developer partners earn commission per successful transaction from merchants they refer. Commission tiers: Rp 500/transaction for 0-100 transactions, Rp 400/transaction for 101-300 transactions, Rp 300/transaction for 301+ transactions. Commissions apply only after merchant completes at least 5 first-time transactions.
- QRIS Soundbox Subscription: QRIS Soundbox device available for Rp 2,000/day rental, providing audio notifications for offline QRIS payments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Virtual Account pricing starting at Rp 3.5K per transaction |
| Transaction based/ take rate | Pay-as-you-go | COD (Cash-on-Delivery) at 3% per successful transaction |
| One time/ perpetual license | Pay-as-you-go | Integration Service one-time fee of Rp 3,000,000 |
| Subscription | Daily | QRIS Soundbox from Rp 2,000/day |
| Transaction based/ take rate | Pay-as-you-go | Referral commission tiers: Rp 300-500 per transaction |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels7 records
iPaymu product offering
Product offeringCore offering
iPaymu is an Indonesian payment aggregator and gateway platform (PT Inti Prima Mandiri Utama) that lets merchants accept payments through a single REST API connecting to 95% of online transaction channels in Indonesia, including Virtual Account (140+ banks), QRIS, e-wallets (GoPay, OVO, Dana, LinkAja, ShopeePay), credit cards (Visa, Mastercard), Direct Debit, Convenience Stores (Indomaret, Alfamart), COD, and Akulaku installments. The platform adds AI-powered fraud monitoring, escrow protection, split payment, recurring/subscription billing, and payment-link generation, supplemented by sub-products such as QWIK (QRIS Soundbox), YesPOS, Kooperasi, Reseller.id, HalloBali, and Seller Bot.
Product overview
iPaymu is a payment aggregator platform (PT Inti Prima Mandiri Utama) that serves as a one-stop payment gateway for Indonesian businesses, integrating over 95% of online transaction channels through a single API. The core platform is built around its main Payment Gateway/Aggregator offering, supplemented by a suite of vertical sub-products including QWIK (QRIS Soundbox), Kooperasi (Digital Cooperative), YesPOS (Point-of-Sales + EDC), Resellr.id (Social Commerce for Resellers), HalloBali (Social Agent), and Seller Bot (Social Media Automation). Key payment modules include Virtual Account (140+ banks), QRIS (dynamic and static), multiple e-wallets via QRIS (GoPay, OVO, Dana, LinkAja, ShopeePay), credit cards (PCI DSS), Direct Debit, Convenience Stores (Indomaret, Alfamart), COD, Cross-Border, Akulaku installment, Escrow protection, Transaction Insurance, Split Payment, Recurring Payment, Invoice Generator, and Payment Link. The platform also provides value-added tools including a Referral Program (Menjulang), WhatsApp Payment Bot, and an Integration Service. AI capabilities are limited to real-time transaction monitoring and fraud detection (AI Monitoring/FDS).
Differentiator
Problem solved
Functional benefit
Brands
- QWIK: QRIS Soundbox product for audio payment notifications in offline retail businesses.
- Kooperasi
- YesPOS
- Reseller.id
- Seller Bot
- HalloBali
Products and services
- iPaymu Payment Gateway / Aggregator Platform Core payment aggregator and gateway platform enabling businesses to accept 95% of Indonesian online transaction channels (Virtual Account, QRIS, e-wallets, credit cards, Direct Debit, Convenience Stores, COD) through a single API. Protects transactions with Escrow and AI-powered fraud monitoring. Built for online merchants, marketplaces, and digital product sellers.
- QWIK (QRIS Soundbox) Audio notification device for QRIS payments that alerts merchants audibly when payment is received, addressing the silent QR-code problem in offline retail. Available for rental from Rp 2,000/day.
- Kooperasi (Digital Cooperative) Digital cooperative platform enabling 100% digital cooperatives with API access under Rp 20,000 for digitizing cooperative operations and payment collections.
- YesPOS (Point-of-Sales) Free subscription Point-of-Sales (POS) system with EDC (Electronic Data Capture) functionality for offline retail transactions.
- Resellr.id (Reseller & Dropshipper Platform) Social Commerce platform designed for resellers and dropshippers, enabling social-media-based selling with integrated payment processing.
- HalloBali (Social Agent) Plug & Play social agent tool for businesses, particularly suited for the Bali market segment.
- Seller Bot (Social Media Automation) Marketing automation tools for social media platforms, enabling automated sales and customer engagement.
- Integration Service (Jasa Integrasi) Professional integration service helping merchants integrate iPaymu into WooCommerce, WHMCS, Moodle, Opencart, Prestashop, or custom platforms via API. IDR 3,000,000 one-time fee, 3-14 working days completion.
- WhatsApp Payment Bot Payment automation bot for WhatsApp Business enabling merchants to process transactions directly through the WhatsApp messaging platform.
- Payment Link Instant payment link generation allowing merchants to sell without a website. Payment links auto-route through Escrow. No login or registration required for buyers.
- iPaymu Referral Program (Menjulang) Referral program for freelancers, developers, bloggers, and influencers to earn commissions per successful merchant transaction. Commission tiers: Rp 500/transaction (0-100), Rp 400/transaction (101-300), Rp 300/transaction (301+).
Quantifiable outcome
- Merchants experience 30%+ increase in transaction conversion rates
- +2 more outcomes
Companies that use iPaymu
Customer profileSegments7 records
Ideal customer profiles4 records
iPaymu technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration12 records
AI capability2 records
Feature6 records
iPaymu partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core.
- Bank MandiricoreBanking partner integrated into iPaymu's payment network, enabling Virtual Account and other bank-based payment methods for merchants.
- BNI (Bank Negara Indonesia)coreBanking partner integrated into iPaymu's payment network, enabling Virtual Account payments through BNI.
- CIMB NiagacoreBanking partner integrated into iPaymu's payment network, enabling Virtual Account payments through CIMB Niaga.
- Bank Nobu (National Nobu Bank)coreBanking partner integrated into iPaymu's payment network.
- BPD (Bank Pembangunan Daerah)coreRegional development bank partner integrated into iPaymu's payment network, enabling broader regional coverage.
- AkulakucoreDigital banking and financial services partner enabling installment payments (Cicilan Tanpa Kartu Kredit) for iPaymu merchants. Akulaku provides instant approval up to Rp 2,000,000 with approval in 5 minutes.
- Expedisi Partners (COD)coreLogistics and courier partners enabling Cash-on-Delivery (COD) services across Indonesia, expanding merchant reach beyond digital payments to physical goods delivery.
- BI-Fast (Bank Indonesia Fast Payment)coreNational payment infrastructure partnership enabling faster and cheaper fund withdrawals through BI-Fast service.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
iPaymu competitors and assessment
Company assessmentBroad incumbents
- OVO: Major Indonesian e-wallet integrated via QRIS on iPaymu. Operates as both a payment method on iPaymu and an acquirer of merchants, making it an incumbent competitor for direct merchant relationships.
- Stripe: Global payment gateway leader with developer-first APIs and broad payment-method support. Comparable to iPaymu on API design, developer tooling and orchestration, and a likely competitor as it expands deeper into Southeast Asia.
- Adyen: Global unified commerce and payment platform offering gateway, acquiring and processing. A broader incumbent comparable to iPaymu's omnichannel gateway and orchestration value proposition for enterprise merchants.
- GoPay: Indonesia's largest e-wallet, part of the GoTo ecosystem. While an end-user wallet rather than a pure aggregator, it overlaps with iPaymu on QRIS acceptance and merchant acquiring for online and offline flows.
Direct peers
- Midtrans: Indonesian payment gateway owned by GoTo, supporting credit cards, bank transfers, e-wallets, convenience stores and cardless credit. Competes with iPaymu across SMB and enterprise merchants in Indonesia.
- DOKU: One of Indonesia's earliest PCI-certified payment gateways offering VA, e-wallet, credit card and installment integrations. Overlaps directly with iPaymu's gateway, VA and installment (Akulaku) product set.
- Flip: Indonesian fintech covering bank transfers, bill payments and corporate disbursements via BI-Fast. Comparable to iPaymu's VA, BI-Fast withdrawal and multi-bank orchestration capabilities.
- Xendit: Indonesia- and Southeast Asia-focused payment gateway providing virtual accounts, e-wallets, cards and disbursements via a single API. Direct head-to-head competitor to iPaymu's core offering for Indonesian online merchants.
Emerging players
- Akulaku: Indonesian BNPL and digital financial services platform integrated into iPaymu for 'Cicilan Tanpa Kartu Kredit'. Both a partner on iPaymu's installment channel and a potential competitor in merchant financing.
- Moka: Indonesian cloud POS and payments platform acquired by GoTo. Comparable to iPaymu's YesPOS sub-product and competes for the same offline SMB merchant segment that iPaymu targets with QWIK soundbox.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
iPaymu social profiles
Digital presenceiPaymu compliance and trust
Trust signalCompliance2 records
iPaymu financial estimates
Financial estimateRevenue estimate
Valuation estimate
iPaymu leadership team
Management profileNumber of profiles
Profiles6 records
iPaymu funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
iPaymu 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 iPaymu
What does iPaymu do?
iPaymu is an Indonesian payment aggregator and gateway platform (PT Inti Prima Mandiri Utama) that lets merchants accept payments through a single REST API connecting to 95% of online transaction channels in Indonesia, including Virtual Account (140+ banks), QRIS, e-wallets (GoPay, OVO, Dana, LinkAja, ShopeePay), credit cards (Visa, Mastercard), Direct Debit, Convenience Stores (Indomaret, Alfamart), COD, and Akulaku installments. The platform adds AI-powered fraud monitoring, escrow protection, split payment, recurring/subscription billing, and payment-link generation, supplemented by sub-products such as QWIK (QRIS Soundbox), YesPOS, Kooperasi, Reseller.id, HalloBali, and Seller Bot.
Is iPaymu a public or private company?
iPaymu is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was iPaymu founded?
iPaymu was founded in 2011.
Where is iPaymu based?
iPaymu is headquartered in Jakarta, Indonesia, in the Asia region.
How does iPaymu make money?
Four revenue lines are on record. Transaction Fees are the primary driver. The others are integration Services, referral Program Commissions and QRIS Soundbox Subscription.
Who are iPaymu's main competitors?
Broad incumbents on record are OVO, Stripe, Adyen and GoPay. Direct peers are Midtrans, DOKU, Flip and Xendit. Emerging players are Akulaku and Moka.
Does iPaymu have an API?
Yes. iPaymu provides a REST API enabling merchants to integrate payment channels into their websites and applications. Available endpoints include API Single Sign-On, API Redirect Payment, API Direct Payment, and API Split Payment. The platform also offers instant plugins for WooCommerce, Moodle, WHMCS, Prestashop, and Opencart. A sandbox environment is available for testing. Integration Service is offered as a paid add-on (IDR 3,000,000 one-time fee, 3-14 working days completion, 3-month warranty). Developer documentation is at ipaymu.com/api-collection.
What industry is iPaymu in?
iPaymu's product category is Payment Gateway and Processing Services. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAMACAJ, Smart Routing, Cascading & Payment Optimization. Its NAICS code is 522320 and its SIC code is 7370.