What Faspay does

Faspay (legal entity PT Media Indonusa) is an Indonesian payment gateway provider established in 2003 as a subsidiary of ASTEL Group. The platform enables businesses to accept online payments across 50+ payment methods (credit cards, e-wallets such as OVO, GoPay, DANA, ShopeePay, virtual accounts at BCA, Mandiri, BNI, BRI, QRIS, and retail outlets such as Indomaret and Alfamart) through a single API integration, and to disburse funds to 150+ banks, e-wallets, and virtual accounts in real time. The product suite comprises seven offerings: Faspay Business (online payment acceptance), Faspay Billing (digital invoices and payment links), Faspay SendMe (mass and individual fund transfers), Faspay Cash Out (retail-outlet cash withdrawals), QRIS (standardized QR acceptance), Faspay EDC (point-of-sale terminals), and FasPayment Store (web-based mobile POS). The platform supports over 5,000 merchants including Starbucks Indonesia, Tiket.com, Mandarin Oriental, Mulia Hotel, KidZania, ISPI, and BRI Manajemen Investasi across startups, UMKM (micro, small and medium enterprises), and large corporates.

Under the hood, Faspay integrates directly with banks, e-wallets, and retail payment networks via REST API with documentation at docs.faspay.co.id, and delivers automated settlement reports via SFTP to merchant servers. Security infrastructure includes PCI-DSS Level 1 certification (audited by ControlCase), TLS/SSL encryption, tokenization, 3D Secure authentication, and an AI/ML-based Fraud Detection System performing real-time anomaly detection, behavioral analysis, and risk scoring. Bank Indonesia supervises the company as a Payment Initiation and/or Acquiring Services (PIAS) and Remittance Services provider under license No. 23/665/DKSP/Srt/B (2017).

Faspay's business model is pure transaction-based: registration is free, there are no integration or maintenance fees, and revenue is earned only on successful transactions via per-transaction or percentage-based fees (plus Rp 5,000 per cash-out instruction and tiered overseas settlement fees). Go-to-market combines direct API integration for enterprises, self-serve registration for UMKM, and a channel partner program with e-commerce platforms and software developers. Pricing and revenue mechanics are publicly disclosed on faspay.co.id/id/harga/. The company operates exclusively in Indonesia within Southeast Asia, with no disclosed external funding rounds, indicating capital likely comes from parent ASTEL Group and internal operations.

Name

Faspay

Legal name

PT Media Indonusa

Website

https://faspay.co.id

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

1–10 employees

Short description

Faspay (PT Media Indonusa) is an Indonesian payment gateway founded in 2003, serving 5,000+ merchants with 50+ payment methods via a single API. It offers payment acceptance, disbursement, QRIS, and mobile POS products, licensed by Bank Indonesia.

Ownership category

akta.pro rank

Product category

Payment Gateway

NAICS

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

SIC

Finance Services (6199)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

akta.pro secondary industries

A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB), Cross-Border Payouts & Mass Disbursements (Pay-outs) (FSAMAIAJ)

Keywords

• Payment gateway
• Online payment processing
• Fund disbursement services
• Cash management solutions
• QRIS payment acceptance

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, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Fees: Faspay charges merchants on a per-successful-transaction basis. Registration is free, and there are no integration or maintenance fees charged. Fees are applied when a transaction is completed successfully.
2. Cash Out Service Fees: Fees charged per Cash Out instruction for disbursement of funds through retail partner networks. Withdrawal fees of Rp 5,000 per instruction (excluding VAT) apply for fund transfers back to merchant bank accounts.
3. Overseas Settlement Fees: For international settlement withdrawals, fees apply: nominal settlements below Rp 15,000,000 incur a $25 USD fee; above Rp 15,000,000 no fee is charged. Additional $25 USD fee for settlements to Japan, New Zealand, and Korea.
4. Payment Processing Services: Revenue generated from processing payments across 50+ payment channels including virtual accounts, e-wallets, QRIS, and credit/debit cards, charging merchants a percentage or fixed fee per transaction.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Faspay operates an Indonesian payment gateway platform that enables businesses to accept 50+ payment methods (virtual accounts, credit cards, e-wallets, QRIS, retail outlets), transfer funds, disburse cash at retail outlets across 100+ cities, and process billing through a single API integration. The platform serves merchants across UMKM, fintech, education, hospitality, F&B, and e-commerce sectors under Bank Indonesia licensing and PCI-DSS Level 1 certification.

Product overview

Faspay is an award-winning payment gateway platform operated by PT Media Indonusa, established in 2003 and part of ASTEL Group. The platform provides a comprehensive suite of payment solutions comprising seven core products: Faspay Business (online payment acceptance), Faspay Billing (digital invoice and payment links), Faspay SendMe (real-time fund transfers/disbursements), Faspay Cash Out (cash withdrawal through retail networks), QRIS (standardized QR payments), Faspay EDC (point-of-sale terminals), and FasPayment Store (web-based mobile POS). Additional services include financial solutions for MSMEs. The platform connects to 50+ payment methods across banks, e-wallets, cards, and retail networks, serving over 5,000 merchants including major brands like Starbucks, Tiket.com, and hotel chains. Faspay is licensed by Bank Indonesia (No. 23/665/DKSP/Srt/B) and holds PCI DSS Level 1 certification.

Differentiator

Problem solved

Functional benefit

Brands

• Faspay Business: Online payment acceptance solution supporting 50+ payment methods with single API integration
• Faspay Billing
• Faspay SendMe
• Faspay Cash Out
• Faspay EDC
• FasPayment Store
• QRIS Faspay

Products and services

• Faspay Business Payment gateway solution for merchants to accept various online payment methods including virtual accounts, credit cards, e-wallets, and QRIS through API integration.
• Faspay Billing Recurring billing management service enabling merchants to collect payments from customers on a scheduled basis, suited for education, subscription, and subscription-based businesses.
• Faspay SendMe Fund transfer service that allows merchants to send money to multiple recipients, supporting business payout and disbursement use cases.
• Faspay Cash Out Disbursement service allowing merchants to send cash that recipients can withdraw at retail outlets and bank branches across 100+ cities in Indonesia, enabling cash distribution to unbanked populations.
• QRIS Acceptance QR code-based payment acceptance enabling merchants to receive payments from customers using any QRIS-compatible e-wallet or banking app.
• Faspay EDC Electronic Data Capture (EDC) solution enabling retail and F&B merchants to accept card and digital payments at the point of sale.
• Layanan Keuangan UMKM Financial services package tailored for micro and small businesses (UMKM), enabling payment acceptance and cash management for unbanked and underbanked merchants.
• FasPayment Store Payment solution designed for retail stores, enabling merchant outlets to accept digital payments and serve as cash-out points for Faspay Cash Out.

Quantifiable outcome

• 5000+ businesses trust Faspay across various industries including enterprise, startup, and UMKM segments
• +2 more outcomes

Named customers7 records

Segments8 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability4 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core and minor.

• ASTEL GroupcoreStrategic or Co-development Partner · 1 January 2003ASTEL Group is the parent company of PT Media Indonusa (Faspay). Faspay was established as a subsidiary of ASTEL Group in 2003 to provide online payment system services in Indonesia.
• BCA (Bank Central Asia)coreTechnology or IntegrationFaspay has partnered with BCA to provide BCA Virtual Account payment services. This integration connects Faspay merchants to BCA's 22.5 million users, enabling customers to pay via BCA internet banking, ATM, and mobile banking.
• PT Sumber Alfaria Trijaya (Alfamart)coreTechnology or IntegrationAlfamart serves as a Cash Out Partner, enabling customers to withdraw cash at Alfamart retail outlets through Faspay's cash disbursement service. Maximum withdrawal per instruction is Rp 5,000,000.
• PT Klik Indomaret Sukses (Indomaret)coreTechnology or IntegrationIndomaret serves as a Cash Out Partner, enabling cash withdrawals at Indomaret convenience stores through Faspay's cash-out service. Maximum withdrawal per instruction is Rp 1,000,000.
• Bank IndonesiacoreOthersFaspay is registered and supervised by Bank Indonesia as a payment gateway provider and fund transfer provider under official letter No. 23/665/DKSP/Srt/B for Payment Initiation and/or Acquiring Services (PIAS) and Remittance Services.
• E-commerce Platforms and Software DevelopersminorChannel Partner/ Reseller/ DistributorE-commerce platforms, website developers, and software development partners collaborate with Faspay to help businesses build online stores and integrate payment solutions. Includes joint marketing programs to expand merchant reach.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Stripe: Global payment infrastructure platform providing online payment acceptance, billing, and financial services via APIs. Comparable to Faspay in API-first gateway approach and developer-led distribution, though serving a global market with much broader product suite.
• Adyen: Global payment processor offering unified online, mobile, and in-store payment acceptance across hundreds of methods. Comparable to Faspay in API-first multi-channel acceptance model, though operating at vastly larger global scale and largely focused on enterprise merchants.

Direct peers

• Xendit: Leading Indonesian and Southeast Asian payment gateway providing acceptance, disbursement, and fintech infrastructure. Direct competitor with overlapping product set (payment links, virtual accounts, e-wallets, mass payouts) and similar target segments, but with broader regional reach and VC backing.
• DOKU: One of Indonesia's longest-standing payment gateway providers, offering online payment acceptance, e-wallet, virtual account, and credit card processing for Indonesian merchants. Closely comparable to Faspay in product breadth, multi-channel coverage, and domestic focus.
• Finpay: Indonesian payment gateway offering multi-channel payment aggregation, QRIS acceptance, and disbursement services. Comparable to Faspay in product breadth and Indonesia-focused merchant base.
• Midtrans: Indonesian payment gateway operated by GoTo (Gojek/Tiket parent), providing online payment acceptance across cards, e-wallets, virtual accounts, and convenience stores. Direct competitor to Faspay with similar merchant base and API-first model, though backed by a larger super-app owner.
• iPaymu: Indonesian payment gateway offering online payment processing, virtual accounts, and credit card acceptance for SMEs and enterprises. Comparable to Faspay in serving the Indonesian domestic market with multi-channel payment aggregation.
• Nicepay: Indonesian payment gateway providing online payment processing, credit card acquiring, and alternative payment methods. Direct competitor to Faspay with overlapping target customer segments and product offerings in Indonesia.

Emerging players

• Ayoconnect: Indonesian fintech infrastructure provider offering open finance APIs, payment initiation, and account aggregation services. Comparable to Faspay's payment initiation and disbursement capabilities, with a more API/open-banking orientation.

Regional players

• AsiaPay: Asia-Pacific payment service provider offering multi-currency, multi-channel online payment processing across multiple Asian markets. Comparable to Faspay in gateway and multi-channel processing model, but operating across multiple Asian geographies rather than concentrated in Indonesia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 Faspay