What Nicepay Indonesia does

NICEPAY Indonesia (legally PT IONPAY NETWORKS) is a Jakarta-based payment gateway operator serving Indonesian online and offline merchants. The company consolidates more than 20 payment methods — credit and debit cards (Visa, Mastercard, JCB, Amex, GPN, UnionPay), virtual accounts across 13 Indonesian banks, QRIS, direct debit via Jenius Pay, five major e-wallets (OVO, DANA, ShopeePay, LinkAja, AstraPay), four paylater providers (Kredivo, Akulaku, Indodana, SPayLater), and cash payments through 20,000+ convenience store outlets — behind a Single API. Supporting services include SMS broadcast for OTP messaging, a Payment Link product for SMBs without websites, Payout/Disbursement for bulk transfers, and Cashout (NICE Cash) for cardless cash withdrawals at Indomaret. The Merchant Back Office (IONPay MMS) provides unified transaction monitoring, settlement reconciliation, and reporting.

The platform is differentiated by an Active Dual System infrastructure for redundancy, PCI DSS Level 1 certification, the NICEPAY F.R.I.S.K rule-based fraud and risk engine, 3D Secure authentication, tokenization, recurring billing, and multi-acquiring-bank routing across Bank Mandiri, BCA, BRI, and BNI. The company is a subsidiary of NICE GROUP Korea, a South Korean financial technology conglomerate, and claims 30+ years of combined payments experience through that parent.

NICEPAY operates a transaction-based revenue model with method-specific take rates: 2.9% + Rp1,500 for credit/debit online, Rp4,000 per virtual account transaction, Rp5,000 per convenience store transaction, 1.5%–3% for e-wallets depending on provider, 0.7% for QRIS, and 1%–2.3% + Rp1,500 for paylater. Disbursement fees range Rp2,000–Rp30,000, SMS broadcast is Rp550 (local) and Rp2,500 (international), and EDC terminals rent at Rp450,000/month under 3-year minimums. The go-to-market is hybrid: enterprise field sales with dedicated IT/business/operational staff for high-value merchants (14–30 working day onboarding), and self-service back office registration with an aggregator settlement model for SMBs lacking PT legal status. The company serves 1,000+ merchants across travel, retail, fintech, insurance, entertainment, healthcare, and transportation verticals, processing 81M+ transactions and Rp89+ trillion in payment value during 2024.

Name

Nicepay Indonesia

Legal name

PT IONPAY NETWORKS

Website

https://nicepay.co.id

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

51–100 employees

Short description

NICEPAY Indonesia (PT IONPAY NETWORKS) is a Jakarta-based payment gateway serving 1,000+ Indonesian merchants with a Single API that unifies 20+ payment methods — credit cards, virtual accounts, e-wallets, paylater, QRIS, and convenience store payments — backed by PCI DSS Level 1 certification and Bank Indonesia licensing.

Ownership category

akta.pro rank

Product category

Payment Gateway Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

akta.pro secondary industries

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB), mPOS & SoftPOS (Tap-to-Phone) Solutions (FSAMADAB), Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• Payment gateway services
• Online payment processing
• Virtual account payments
• E-wallet integration
• Merchant payment solutions

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Transaction Fees - Credit Card/Debit Online: Percentage-based fee plus fixed per-transaction charge for credit card and debit online GPN payments. Fee is 2.9% + Rp1,500 per transaction.
2. Transaction Fees - Virtual Account: Fixed fee per virtual account transaction at Rp4,000 per transaction.
3. Transaction Fees - Convenience Store: Fixed fee per convenience store transaction at Rp5,000 per transaction.
4. Transaction Fees - Direct Debit: Hybrid fee structure for direct debit at 1.5% or Rp3,000 per transaction.
5. Transaction Fees - E-Wallet: Percentage-based fees for e-wallet transactions ranging from 1.5% to 3% depending on provider (DANA, OVO, ShopeePay, LinkAja, AstraPay).
6. Transaction Fees - QRIS: Percentage-based fee for QRIS transactions at 0.7% per transaction.
7. Transaction Fees - Paylater: Percentage-based plus fixed fees for paylater transactions from Kredivo, Akulaku, Indodana, SPayLater at 1% to 2.3% + Rp1,500.
8. Payout/Disbursement Services: Fees for disbursement services ranging from Rp2,000 to Rp30,000 per transaction depending on amount and method.
9. Cashout Services: Fixed fee for cash withdrawal services at Rp5,000 per transaction.
10. SMS Broadcast: Messaging service fees at Rp550 for local SMS and Rp2,500 for international SMS.
11. EDC Device Rental: Monthly rental fees for EDC terminals at Rp450,000 per month for contracts under 2,500 devices, with minimum 3-year contract and 6-month usage commitment.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

NICEPAY operates as an all-in-one online payment gateway for Indonesian businesses, enabling merchants to accept 20+ payment methods through a Single API integration. Its offerings span credit/debit card processing, virtual accounts across 13 banks, convenience store payments at 20,000+ outlets, e-wallets, paylater services, QRIS, direct debit, and supporting services such as SMS broadcast, payment links, payouts/disbursements, cashout, and merchant back-office tools.

Product overview

NICEPAY (PT IONPAY NETWORKS) operates as an all-in-one payment gateway platform serving the Indonesian market with over 30 years of combined experience in the enhanced payment industry. The core platform unifies multiple payment channels including Credit Card, Virtual Account (13 banks), Convenience Store (20,000+ outlets), Direct Debit, e-Wallet (OVO, DANA, ShopeePay, LinkAja, AstraPay), Paylater (Kredivo, Akulaku, Indodana, SPayLater), and QRIS into a single API infrastructure. Supporting services include SMS Broadcast for OTP and notifications, Payment Link for invoice-based payments without integration, Payout/Disbursement for bulk fund transfers, and Cashout (NICE Cash) for physical cash withdrawals at Indomaret. The Merchant Back Office provides unified transaction monitoring, settlement reporting, and reconciliation. Developer access is facilitated through NICEPAY Docs portal with comprehensive API documentation.

Differentiator

Problem solved

Functional benefit

Products and services

• NICEPAY Payment Gateway All-in-one online payment gateway processing transactions through credit cards, virtual accounts, direct debit, convenience stores, e-wallets, QRIS, and installment non-bank methods via a single API. Designed for Indonesian merchants needing multi-method payment acceptance.
• Credit Card Payment Processing Credit and debit card payment processing supporting Visa, Mastercard, JCB, American Express, and GPN cards with 3D Secure authentication, multi-acquiring banks, online installment, tokenization, recurring payments, and pre-auth/capture features.
• Virtual Account Online bank transfer solution connecting to 13 major Indonesian banks (BCA, Mandiri, BRI, BNI, CIMB Niaga, Permata, Maybank, Danamon, Keb Hana, Bank DKI, BJB, Bank Neo Commerce, Bank Syariah Indonesia) with real-time transfer notifications and unified back-office access.
• Convenience Store Payment Cash payment method accepted through major convenience store networks including Indomaret, Ceriamart, i.saku, Mitra Indogrosir, Alfamart, Alfamidi, and Dan+Dan with over 20,000 outlets across Indonesia.
• Direct Debit Direct payment method linking to a customer's electronic banking account through Jenius Pay internet banking for online transactions.
• e-Wallet Payment Electronic wallet payment integration with OVO, LinkAja, DANA, ShopeePay, and AstraPay for secure and convenient online shopping transactions.
• Paylater Cardless installment payment method offering Kredivo, Akulaku PayLater, Indodana, and SPayLater through facilitator and aggregator settlement system.
• QRIS Quick Response Code Indonesia Standard digital payment enabling cashless transactions via QR code scanning through any Bank or e-Wallet application, based on national QR code standard by Bank Indonesia and ASPI.
• SMS Broadcast Real-time and secure OTP SMS service for business needs including login access codes, payment confirmation, and customer communications through telecom partners (Telkomsel, XL Axiata, IOH, Smartfren).
• Payment Link Digital invoice solution enabling online payments without website integration, allowing merchants to send payment links via email, social media, or WhatsApp for faster and easier electronic billing.
• Payout (Disbursement) Fund disbursement service enabling merchants to send money to multiple bank accounts quickly and safely through API integration with single-click functionality.
• Cashout (NICE Cash) Cash withdrawal service allowing customers to withdraw cash without physical cards at all Indomaret branches throughout Indonesia.
• Merchant Back Office Merchant dashboard (IONPay MMS Admin) providing transaction monitoring, settlement reports, payment analytics, accounting and reconciliation features, and billing management.
• NICEPAY Docs (Developer Documentation) Developer portal providing API documentation, integration guides, hands-on tutorials, payment page customization instructions, EDC guidance, business operation documentation, NICEHub information, messaging API, and security guidelines.

Quantifiable outcome

• 81 million+ transactions processed in 2024
• +3 more outcomes

Named customers22 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature8 records

Partnerships

23 partnerships are on record, tiered core and minor.

• BRI (Bank Rakyat Indonesia)coreStrategic or Co-development PartnerJoint promotional program CGV X BRI offering special cinema packages (Rp100,000 for 2 tickets + combo) when paying with BRI Debit Mastercard Contactless. Valid until June 30, 2026.
• OVOcoreTechnology or IntegrationE-wallet payment integration for online transactions. Supports both digital content (2.73%) and non-digital content (1.5%) fee structures.
• DANAcoreTechnology or IntegrationE-wallet payment integration with 1.6% fee for standard transactions and 2.5% for subscription model.
• ShopeePaycoreTechnology or IntegrationE-wallet integration for ShopeePay with digital content (4%) and standard transaction fees. Collaboration expanding ShopeePay's digital payment reach.
• LinkAjacoreTechnology or IntegrationE-wallet payment integration with 2% transaction fee.
• AstraPaycoreTechnology or IntegrationE-wallet payment integration for Astra financial services ecosystem.
• KredivocoreTechnology or IntegrationPaylater payment integration with 2.3% transaction fee. Settlement on Tuesday and Friday.
• Akulaku PayLatercoreTechnology or IntegrationPaylater payment channel partner since 2017, enabling cardless installment payments.
• IndodanacoreTechnology or IntegrationPaylater payment integration for cardless installments.
• SPayLatercoreTechnology or IntegrationPaylater integration with Shopee ecosystem for installment payments.
• IndomaretcoreTechnology or IntegrationConvenience store payment network with 20,000+ outlets for cash and digital payment services including cashout withdrawals.
• AlfamartcoreTechnology or IntegrationConvenience store payment network for offline cash payment processing.
• Bank BCAcoreTechnology or IntegrationVirtual account and credit card acquiring bank. Settlement transferred directly from Bank BCA.
• Bank MandiricoreTechnology or IntegrationCredit card acquiring bank and virtual account provider. Fee-free settlement transfers.
• Bank BRIcoreTechnology or IntegrationCredit card acquiring bank and virtual account provider. Fee-free settlement transfers.
• Bank BNIcoreTechnology or IntegrationVirtual account provider with fee-free settlement transfers.
• Bank CIMB NiagacoreTechnology or IntegrationVirtual account provider with fee-free settlement transfers.
• Jenius PaycoreTechnology or IntegrationDirect debit integration through internet banking for electronic banking account payments.
• Bank Indonesia / ASPIcoreTechnology or IntegrationQRIS (Quick Response Code Indonesia Standard) service provider - National QR code standard launched August 17, 2019 for cashless transactions.
• VisacoreTechnology or IntegrationCredit card network for payment processing and dispute resolution.
• MastercardcoreTechnology or IntegrationCredit card network for payment processing and dispute resolution.
• NICE GROUP KoreacoreOthersParent company providing over 30 years of experience as a financial solution provider. NICEPAY is part of the NICE GROUP Korea.
• Qoala InsuranceminorStrategic or Co-development PartnerPersonal accident insurance offering through NICEPAY with coverage up to 30 days at Rp1,000 per policy.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Xendit: Indonesia- and Southeast Asia-focused payment gateway offering single-API integrations across cards, virtual accounts, e-wallets, QRIS, paylater and disbursements. Competes head-to-head with NICEPAY for Indonesian e-commerce, fintech and enterprise merchants.
• Doku: Long-standing Indonesian online payment gateway offering card processing, virtual accounts, e-wallets, paylater and convenience-store payments for local merchants. Closely comparable product mix and enterprise customer base to NICEPAY.
• Midtrans (GoTo): Indonesian payment gateway owned by GoTo that processes online and offline payments via credit cards, virtual accounts, e-wallets, convenience stores and QRIS for Indonesian merchants. Directly comparable to NICEPAY on geography, payment-method coverage and target merchant segments.
• iPay88 (AsiaPay Indonesia): Indonesia-focused online payment gateway providing credit-card processing, internet banking, e-wallet and over-the-counter payments to merchants. Competes with NICEPAY across the same Indonesian merchant verticals.
• Flip (PT Fliptech Lentera Inspirasi): Indonesian fintech primarily known for virtual account, disbursement and bill-payment services to consumers and businesses. Overlaps with NICEPAY on virtual-account acceptance, payout and payment-link style flows for Indonesian merchants.
• Veritrans (now part of Digital Garage / DG Payment): Indonesia-based online payment gateway service that processes card, virtual account and convenience-store payments for local e-commerce and enterprise merchants, overlapping with NICEPAY's core payment-method coverage.

Broad incumbents

• Stripe: Global online payment gateway with extensive API-based integrations for cards, wallets and local payment methods. Increasingly relevant to Indonesian cross-border merchants as an alternative to domestic gateways including NICEPAY.
• Adyen: Global payment processor offering unified online, in-store and platform payments across cards, local methods and payouts. A broader incumbent that large Indonesian enterprises may select over local gateways like NICEPAY for cross-border ambitions.

Others

• OVO: Major Indonesian e-wallet that is simultaneously a payment-method partner of NICEPAY and an emerging provider of direct merchant acquiring and payment-link products. A channel partner today but a potential disintermediator over time.

Regional players

• 2C2P: Southeast Asia-headquartered payment gateway serving merchants across Thailand, Indonesia, Singapore, Malaysia, Vietnam and the Philippines with card, alternative and disbursement services. Comparable technology and merchant-acquirer model to NICEPAY, with broader regional reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nicepay.nicepay
• LinkedInlinkedin.com/company/nicepay-id
• Instagraminstagram.com/nicepay_id
• Xx.com/Nicepay_id

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nicepay Indonesia