What Virgo does

Virgo, operated by PT Capital Net Indonesia, is an Indonesian Bank Indonesia-licensed e-money and digital payment platform headquartered in Jakarta and founded in 2021. Its core product, the Virgo Wallet mobile app (Android/iOS), enables consumers to store balances, execute QRIS payments in both Merchant Presented Mode (MPM) and Customer Presented Mode (CPM), purchase digital products (pulsa, data, electricity tokens), pay bills including BPJS Kesehatan, transfer funds to bank accounts and other Virgo users, withdraw cash at retail outlets, and link multiple bank accounts (Bank Aladin, BCA, CIMB Niaga) as funding sources through a multi-source dana (SoF) architecture. A flagship differentiator is Top Up Kembalian, which allows users to deposit retail purchase change directly into their Virgo wallet at 17,000+ Alfamart, Alfamidi, Dan+Dan, and Lawson outlets.

The platform is built on Bank Indonesia's BI-SNAP standard QRIS APIs and supports both consumer-presented and merchant-presented QR flows. On the B2B side, Virgo offers merchant QRIS acceptance (delivered through the Aksesmu merchant app operated by PT Sumber Trijaya Lestari), online payment acceptance via Direct Debit and Virtual Account, a white-label Co-Brand Wallet API for application partners (Alfagift, UniPin, GOC, GoTravel), and a Multi-Source of Funds integration for payment providers that is publicly listed as an upcoming service. Merchant settlement is routed exclusively to Bank Aladin Syariah accounts.

Virgo earns revenue through transaction fees: a Merchant Discount Rate of 0% on QRIS transactions up to Rp500,000 and 0.3% above that threshold; top-up fees of Rp1,000 via Alfamart/BCA/CIMB Niaga and Rp6,500 via other banks; Rp2,500 bank transfer fees; embedded margins on digital product resales; and B2B API licensing tied to transaction volume through white-labeled wallet instances. Virgo reports more than 90 million transactions per year, more than 24,000 merchants across Indonesia, more than 22,000 service partners, and more than 200 partner applications, and it won the Google Play Best Essential App 2022 award for the Top Up Kembalian feature.

Name

Virgo

Legal name

PT Capital Net Indonesia

Website

https://virgoku.id

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

51–100 employees

Short description

Virgo is an Indonesian Bank Indonesia-licensed e-money and digital payment platform offering a consumer mobile wallet with QRIS payments, multi-source bank account funding, retail change top-up, and B2B white-label wallet APIs to consumers, MSME merchants, and application partners.

Ownership category

akta.pro rank

Product category

Digital Payments and E-Money Wallet

SIC

Finance Services (6199)

akta.pro primary industry

General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)

akta.pro secondary industries

QR Code Payments Wallets (FSAMAEAC), In-App / Online Checkout Wallets (FSAMAEAH)

Keywords

• Digital wallet
• QRIS payments
• Mobile payments
• E-money services
• Payment acceptance

Headquarters

HQ city

Jakarta

HQ country

Indonesia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

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

Revenue model

1. Merchant Discount Rate (MDR): Virgo charges merchants a MDR fee on QRIS transactions: 0% for transactions up to Rp500,000 and 0.3% for transactions above Rp500,000. This is auto-deducted from settlement amounts before transfer to merchant accounts. Settlement is made to Bank Aladin Syariah accounts.
2. Top-Up Fees: Virgo charges users a fee for topping up their wallet balance: Rp1,000 for top-ups via Alfamart, Alfamidi, BCA, and CIMB Niaga; Rp6,500 for top-ups via other banks. Top-up kembalian at partner retail outlets is free.
3. Bank Transfer Fees: Transfer to external bank accounts incurs a fee of Rp2,500 per transaction.
4. Co-Brand / White-label API Licensing: Virgo licenses its wallet infrastructure to B2B partners (app providers and payment providers) via API integration, enabling co-branded wallet functionality within partner applications. Revenue derives from transaction volume flowing through white-labeled wallet instances.
5. Digital Product Purchases: Virgo earns revenue from facilitating digital product purchases including prepaid phone credit, data packages, electricity tokens, and BPJS Kesehatan bill payments. Fees are embedded in pricing or charged per transaction.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Virgo operates an Indonesian e-money wallet (Virgo Wallet) licensed by Bank Indonesia and distributed via mobile app, offering QRIS payments, balance storage, bill payments, digital product purchases, fund transfers, and cash withdrawals funded by multiple linked bank accounts. Surrounding the consumer app are three B2B product lines: a QRIS Payment Acceptance solution for merchants (MPM and CPM modes), an online payment acceptance product (Virtual Account and Direct Debit), and a white-label Co-Brand / Multi-Source-of-Funds e-wallet API for application and payment provider partners.

Product overview

Virgo is an Indonesian digital payments platform operated by PT Capital Net Indonesia, licensed by Bank Indonesia. The product portfolio centers on the Virgo Wallet mobile app (Android/iOS) — an e-money wallet offering balance storage, QRIS payments, bill payments, digital purchases (pulsa, data, electricity tokens, BPJS), fund transfers, and cash withdrawals. The wallet supports multiple bank accounts as funding sources. Surrounding the consumer app, Virgo offers three B2B product lines: (1) QRIS Payment Acceptance for merchants (via Aksesmu webview, supporting MPM and CPM), (2) Online Payment Acceptance via Direct Debit and Virtual Account, and (3) E-Wallet Solutions — a white-label/co-branding offering (Co-Brand) and a multi-source-of-funds offering (Multi SoF) for application and payment provider partners, all accessible via BI-SNAP standard API. Virgo Star is the KYC-verified account tier (Rp20M balance limit) contrasting with the unverified tier (Rp2M balance limit). Virgo also embeds the Top Up Kembalian feature as a flagship differentiator, in partnership with Alfamart's 17,000+ retail outlets.

Differentiator

Problem solved

Functional benefit

Products and services

• Virgo Wallet Digital wallet/e-money application for individual users enabling balance storage, QRIS payments (MPM and CPM), bill payments, mobile credit and data purchases, electricity token purchases, BPJS Kesehatan bill payments, fund transfers between Virgo users and to bank accounts, and cash withdrawals at Alfamart/Alfamidi. Users can link multiple bank accounts as funding sources. Available on Android (min 5.0) and iOS (min 15).
• Virgo QRIS Payment Acceptance (Akseptasi QRIS) QRIS-based payment acceptance solution for merchants supporting both Merchant Presented Mode (MPM) — where merchants display QR codes for customer scanning — and Customer Presented Mode (CPM) — where Virgo users generate a QR code for the merchant to scan. Merchants receive digital payments with automatic next-day settlement to Bank Aladin Syariah accounts; accessed through the Aksesmu application webview.
• Virgo Online Payment Acceptance (Terima Pembayaran) Online payment acceptance solution enabling merchants and businesses to receive cardless, contactless payments from consumers without face-to-face transactions via Direct Debit and Virtual Account methods. Targets online merchants, service providers, and businesses needing remote payment collection.
• Virgo E-Wallet Solution — Co-Brand White-label / co-branding wallet solution for application partners that allows third-party applications (e.g., e-commerce, super apps, fintech apps) to embed Virgo Wallet features — including balance display, QRIS payment, top-up, and withdrawal — directly within their own app, with full UI customization. End users register and use the wallet through the partner's app without needing to download a separate Virgo application. Follows the BI-SNAP standard.
• Virgo E-Wallet Solution — Multi Source of Funds Multi-funding-source wallet solution for payment provider partners enabling banks, digital banks, and e-money issuers to integrate their accounts as a primary or secondary funding source within the Virgo wallet ecosystem, using Virgo Wallet infrastructure so their users can pay using the partner's financial service as a funding source.

Quantifiable outcome

• More than 90 million transactions processed per year
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core, secondary and minor.

• Alfamart (PT Sumber Alfaria Trijaya)coreStrategic or Co-development PartnerAlfamart is Virgo's primary retail partner, providing over 17,000 physical outlets where Virgo users can top up their balance and deposit cash change (Top Up Kembalian). This partnership was critical to Virgo winning the Google Play Best Essential App 2022 award. Alfamart outlets also serve as cash withdrawal (tarik tunai) points for Virgo Star users. The partnership enables Virgo to offer a unique physical-digital integration not easily replicated by digital-only competitors.
• PT Sumber Trijaya Lestari (Aksesmu)coreTechnology or IntegrationAksesmu (OBA - Outlet Binaan Aksesmu) is the platform through which Virgo manages its merchant QRIS acceptance services. Merchants register, access QRIS codes, and track transaction settlements through the Aksesmu application, with Virgo providing the QRIS payment infrastructure and regulatory licensing.
• Bank Aladin (Bank Aladin Syariah)coreTechnology or IntegrationBank Aladin provides the settlement account (rekening tujuan settlement) for Virgo merchants. Virgo users can also link their Bank Aladin accounts to Virgo for multi-source dana functionality. Virgo supports fund transfers between Bank Aladin accounts at no cost, while transfers to external banks incur a Rp6,500 fee.
• Alfadom (Alfamidi, Dan+Dan)secondaryChannel Partner/ Reseller/ DistributorAlfamidi and Dan+Dan (operated by Hero Supermarket/Dairy Farm) serve as additional retail top-up and Top Up Kembalian locations alongside Alfamart. These outlets extend Virgo's physical retail presence beyond Alfamart stores.
• LawsonsecondaryChannel Partner/ Reseller/ DistributorLawson convenience stores serve as additional retail locations where Virgo users can perform Top Up Kembalian (change top-up). This adds another major convenience store chain to Virgo's physical distribution network.
• Bank BCA (Bank Central Asia)secondaryChannel Partner/ Reseller/ DistributorBank BCA provides Virtual Account services for Virgo balance top-ups. Virgo users can top up via ATM BCA, m-BCA, and Klik BCA using a Virtual Account number (39797 + phone number). Top-up fee via BCA is Rp1,000.
• Bank CIMB NiagasecondaryChannel Partner/ Reseller/ DistributorBank CIMB Niaga provides Virtual Account services for Virgo balance top-ups via ATM, Octo Mobile, and Octo Clicks. Users top up using Virtual Account number (2299 + phone number). Top-up fee via CIMB Niaga is Rp1,000.
• AlfagiftsecondaryOEM/ Whitelabel/ Licensing PartnerAlfagift is an e-commerce/mobile shopping application of Alfamart Group. Virgo wallet functionality is embedded within Alfagift, allowing users to link their Virgo account and pay using Virgo balance within the Alfagift app.
• UniPinsecondaryOEM/ Whitelabel/ Licensing PartnerUniPin is a digital entertainment payment platform. Virgo wallet integration allows Virgo users to pay for UniPin products (e.g., game vouchers) using their Virgo balance within the UniPin platform.
• GOC (Go Cashless)minorOEM/ Whitelabel/ Licensing PartnerGOC is a partner application that enables Virgo wallet balance payments. Virgo users can link their accounts to GOC and use Virgo as a payment method within the GOC platform.

Scale indicators6 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• OVO: OVO is a major Indonesian e-wallet offering QRIS payments, P2P transfers, bill payments and merchant acquiring, with deep integration into retail and super-app ecosystems. Directly comparable to Virgo across consumer wallet, multi-source funding (OVO has similar multi-source functionality), and merchant QRIS acceptance in Indonesia.
• DANA: DANA is one of Indonesia's leading e-wallets offering QRIS payments, bill payments, and merchant acceptance. Directly comparable to Virgo on consumer wallet, multi-source funding, and merchant acquiring; DANA is a larger, more established competitor in the same Indonesian QRIS ecosystem.
• ShopeePay: ShopeePay is the e-wallet operated by Sea Group within the Shopee ecosystem in Indonesia, offering QRIS payments, top-ups and merchant acquiring. Directly comparable as a consumer e-money wallet with QRIS acceptance, though it benefits from a much larger e-commerce super-app distribution.
• LinkAja: LinkAja is a major Indonesian e-wallet consortium (Telkom, Mandiri, BNI, BRI, BTN, etc.) offering QRIS payments, bill payments, and merchant services. Directly comparable to Virgo on consumer wallet, multi-source dana and merchant acceptance, with stronger distribution via state-owned banks.
• GoPay: GoPay is the e-wallet of Indonesia's largest super-app Gojek (GoTo Group), serving consumers and merchants with QRIS payments, transfers and embedded payments across ride-hailing and food delivery. Directly comparable to Virgo's consumer wallet and merchant QRIS acceptance, with vastly larger scale.

Emerging players

• Jenius (Bank BTPN): Jenius is a digital banking/e-money app from Bank BTPN offering multi-currency accounts, QRIS payments, transfers, and savings features. Comparable to Virgo on multi-source funding and digital wallet in the Indonesian market, though anchored to a chartered bank.
• i.Saku: i.Saku is an Indonesian e-wallet operated in partnership with Indosat Ooredoo, offering QRIS payments, bill payments and merchant services. Comparable to Virgo as a smaller consumer e-money wallet with QRIS and merchant acceptance, focused on distribution via Indosat's telco base.
• Flip: Flip is an Indonesian fintech specializing in interbank transfers, bill payments and top-ups. Comparable to Virgo on consumer payments and bank-linking features, though Flip is more focused on transfers rather than a full merchant QRIS wallet.
• Payfazz: Payfazz operates a financial agent network in Indonesia offering payments, top-ups and basic financial services. Comparable to Virgo on retail/cash-in distribution model and digital wallet, though Payfazz focuses on agent-based unbanked distribution rather than QRIS merchant acceptance.
• AstraPay: AstraPay is the e-wallet of Astra International, offering QRIS payments, bill payments and merchant acquiring across Astra's automotive and retail distribution. Comparable to Virgo on consumer wallet and merchant services, with distribution advantage through Astra's dealer network.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/virgoindonesia
• Facebookfacebook.com/virgo.indonesia
• LinkedInlinkedin.com/company/virgoindonesia
• Instagraminstagram.com/virgo.indonesia
• TikToktiktok.com/@virgo.indonesia

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 Virgo