Finpay
Finpay (PT Finnet Indonesia) is an Indonesian payment-gateway and fintech-infrastructure provider, processing 957M+ annual transactions across 80+ banks, 524 billers, and 117K+ merchants for enterprises, MSMEs, and government clients. It is a subsidiary of PT Telkom Indonesia, licensed by Bank Indonesia for payment gateway, e-money, QRIS, and digital wallet services.
- Company typePrivate
- Founded2005
- HeadquartersJakarta, Indonesia
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What Finpay does
Finpay is the umbrella digital-payments brand of PT Finnet Indonesia, an Indonesia-domiciled fintech incorporated in 2005 and operating since 2006. The company builds payment-gateway and adjacent financial-infrastructure products — including the core Finpay Payment Gateway (with Core API, Hosted Payment, and Finpay Link no-code modes), Finpay Billing/Disbursement (automated fund transfer and bill management), Finpay Money (e-wallet), Finpay Remittance (cross-border money transfer), Finpay e-Voucher, Finpay Cashout, Mitra Finpay (partner/agent distribution), and Finpay Bill Monitor. The platform integrates natively with 80+ Indonesian banks via virtual accounts, BI-RTGS, PermataNet, and Blu direct debit, plus QRIS, Visa/Mastercard/JCB, e-wallets (Dana, OVO, ShopeePay, LinkAja, Finpay Money, Virgo), paylater providers (Indodana, Kredivo), and modern-channel cash outlets (Alfamart, Indomaret, POS Indonesia, Pegadaian, Yomart). It claims a 99% availability SLA, 15-minute disturbance response, and 6-hour MTTR, and holds ISO 9001, 22301, 37001, 20000-1, 27001, PCI DSS v4, plus multiple Bank Indonesia licenses (Payment Gateway, Electronic Money Issuer, QRIS Processor, Digital Wallet, SNAP Open API, Remittance, Acquiring Debit Card, BI-RTGS). It reports processing 957M+ transactions per year across 117K+ registered partners and 524 billers, with 124T IDR in annual funds managed.
The company monetizes primarily through per-transaction fees with no setup, integration, or monthly charges — fixed fees on virtual accounts (Rp 3,500), direct debit (Rp 2,500), and instant payments (Rp 4,000), blended percentage-and-fixed rates on cards (2.3% + Rp 1,000), and percentage rates on QRIS (0.7%), e-wallets (1.5-2%), and paylater (1-2.3%), with custom pricing for Finpay Code modern-channel cash. Its go-to-market is hybrid: a developer-led, API-first motion for growth and enterprise customers via docs.finpay.id, alongside a no-code self-serve path (Finpay Link) for MSMEs, supplemented by direct enterprise field sales into government, telco, banking, transportation (KAI), utilities (PLN), e-commerce (Blibli), and retail (Alfamart, Telkomsel) accounts.
Finpay is a wholly-owned subsidiary of PT Telkom Indonesia, the country's largest telecommunications conglomerate, via Telkom Metra, with a secondary strategic collaboration through Mekar Prana Indah (a subsidiary of the Bank Indonesia employee welfare foundation). It is headquartered at Telkom Landmark Tower, Jakarta, serving a single-country Indonesia market with 101-250 employees. Revenue is not publicly disclosed, and the company has no public funding rounds or M&A activity on record.
Finpay firmographics
Firmographics- Name
- Finpay
- Legal name
- PT Finnet Indonesia
- Website
- https://finpay.id
- Company type
- Private
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Finpay (PT Finnet Indonesia) is an Indonesian payment-gateway and fintech-infrastructure provider, processing 957M+ annual transactions across 80+ banks, 524 billers, and 117K+ merchants for enterprises, MSMEs, and government clients. It is a subsidiary of PT Telkom Indonesia, licensed by Bank Indonesia for payment gateway, e-money, QRIS, and digital wallet services.
- Ownership category
- akta.pro rank
Finpay industry classification
Industry- Product category
- Digital Payment Infrastructure
- 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
- Payment Orchestration Platforms (FSAGABAA), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Payment Processing & Acquiring Infrastructure (FSAGABAC)
Keywords
Where Finpay is headquartered
LocationHeadquarters
- HQ city
- Jakarta
- HQ country
- Indonesia
- HQ region
- Asia
Offices1 record
Markets served
Finpay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales
Revenue model
- Transaction Fees - Virtual Accounts: Per-transaction fees charged for virtual account bank transfers. Fee varies by bank but standard rate is Rp 3,500 per transaction for most virtual accounts including BRI, BNI, BTN, Mandiri, BCA, BSI, BJB, DKI, Permata, Maybank, Mega, BNC, and Bank Nagari.
- Transaction Fees - Credit/Debit Cards: Percentage-based fees plus fixed per-transaction charge for credit and debit card payments. Standard rate is 2.3% + Rp 1,000 per transaction, supporting Visa, Mastercard, and JCB.
- Transaction Fees - E-wallets: Variable fees for e-wallet payments including LinkAja (Rp 3,500 fixed), Finpay Money (Rp 500 fixed), Dana (1.5% of transaction), ShopeePay (2% of transaction), and OVO (1.5% of transaction).
- Transaction Fees - QRIS: Percentage-based fee for QRIS dynamic QR code payments at rate of 0.7% per transaction.
- Transaction Fees - Instant Payments: Fixed per-transaction fee for instant payment methods such as PermataNet at Rp 4,000 per transaction.
- Transaction Fees - Direct Debit: Fixed per-transaction fee for direct debit payments via Blu at Rp 2,500 per transaction.
- Transaction Fees - PayLater/Installments: Percentage-based fees for paylater and installment payments including Indodana (1% per transaction) and Kredivo (2.3% per transaction).
- Modern Channel Cash - Finpay Code: Fees for modern channel cash payments through bank branches, Alfamart Group, Yomart Group, POS Indonesia, Pegadaian, and Indomaret. Pricing available upon contact.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Virtual Account Bank Transfers - Rp 3,500 per transaction |
| Transaction based/ take rate | Pay-as-you-go | Direct Debit (Blu) - Rp 2,500 per transaction |
| Transaction based/ take rate | Pay-as-you-go | Instant Payment (PermataNet) - Rp 4,000 per transaction |
| Transaction based/ take rate | Pay-as-you-go | Credit/Debit Cards - 2.3% + Rp 1,000 per transaction |
| Transaction based/ take rate | Pay-as-you-go | E-wallets - Various rates |
| Transaction based/ take rate | Pay-as-you-go | QRIS - 0.7% per transaction |
| Transaction based/ take rate | Pay-as-you-go | PayLater & Installments - 1% to 2.3% per transaction |
| Transaction based/ take rate | Pay-as-you-go | Modern Channel Cash (Finpay Code) - Contact for pricing |
Go-to-market motion2 records
Distribution channels7 records
Marketing channels6 records
Finpay product offering
Product offeringCore offering
Finpay (legally PT Finnet Indonesia) provides a comprehensive digital payment infrastructure platform for Indonesian businesses, offering payment gateway services, fund disbursement, billing management, electronic money issuance, and international remittance. The platform integrates with more than 80 banks, multiple e-wallets, retail cash networks and 524 billers to enable diverse payment methods including virtual accounts, QRIS, cards, and paylater options.
Product overview
Finpay is an umbrella brand of digital payment products from PT Finnet Indonesia (a subsidiary of PT Telkom Indonesia), operating since 2006. The offering is a modular platform-plus-products architecture centered on a Payment Gateway core product that serves as the foundational infrastructure for processing digital payments. The platform includes multiple API-based integration modes (Core API for full custom integration, Hosted Payment for one-step hosted checkout, and Finpay Link for no-code payment links), supplemented by Finpay Billing for biller and recurring payment management, Finpay Disbursement for automated fund transfers, Finpay Money for e-money issuance, Finpay Remittance for cross-border transfers, Finpay Cashout for wallet withdrawals, Mitra Finpay for partner channel distribution, Finpay Bill Monitor for payment tracking, and Finpay e-Voucher for digital voucher issuance. The platform connects to 80+ registered banks, 46+ e-commerce partners, and 524 billers, processing over 957 million transactions per year.
Differentiator
Problem solved
Functional benefit
Brands
- Finpay Payment Gateway: Payment gateway service for receiving and processing online payments through various methods including credit cards, bank transfers, virtual accounts, e-money, and retail cash payments.
- Finpay Disbursement
- Finpay Remittance
- Finpay Money
- Mitra Finpay
- Finpay Billing (Bill Monitor)
- Finpay Link
- Finpay Widget
Products and services
- Finpay Payment Gateway A payment gateway platform that enables Indonesian merchants and businesses to accept payments via virtual accounts, QRIS, e-wallets, credit/debit cards, paylater options, and retail cash outlets through a single API or hosted integration.
- Finpay Disbursement A disbursement service that allows businesses to send funds (commissions, refunds, payroll, partner payouts, etc.) to bank accounts, e-wallets, or retail cash points across Indonesia, supporting both single and bulk payouts.
- Finpay Remittance An international and domestic remittance service that enables cross-border and inter-bank money transfers through Finpay's licensed payment infrastructure.
- Finpay Money A licensed electronic money (e-money) platform that allows businesses to issue, manage, and operate their own prepaid digital wallet products under Finpay's regulatory umbrella.
- Finpay Billing A billing management service that enables businesses to issue invoices, manage recurring payments, and accept customer bill payments through Finpay's payment network.
- Finpay Link A no-code payment link product that lets businesses generate shareable payment URLs/QR codes to accept payments from customers without integrating an API.
- Finpay Widget An embeddable payment widget that merchants can drop into their websites or apps to present a hosted checkout experience without building a full integration.
- Mitra Finpay An agent/partner distribution program that enables registered agents (mitra) to provide cash-in, cash-out, bill payment, and other financial services to end customers through Finpay's infrastructure.
- Finpay Bill Monitor A monitoring and reconciliation service that tracks bill payment status and provides reporting across Finpay's biller and payment network.
- Finpay e-Voucher A digital voucher service that allows businesses to issue, distribute, and redeem electronic vouchers through Finpay's payment platform.
- Finpay Cashout
Quantifiable outcome
- 99% availability guarantee for payment instrument availability
- +3 more outcomes
Companies that use Finpay
Customer profileNamed customers10 records
Segments8 records
Ideal customer profiles3 records
Finpay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration33 records
Feature10 records
Finpay partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- Government of Nusa Tenggara Timur (NTT)coreStrategic partnership with NTT Provincial Government for digital payment integration into PRO NTT application, enabling online vehicle tax (PKB) and regional retribution payments. Finpay serves as the payment technology partner providing gateway infrastructure supporting credit cards, QRIS, Dana, LinkAja, and virtual accounts from BRI, Mandiri, BNI, BCA, Mega, Maybank, and regional banks. The collaboration aims to modernize public payment services and promote digital financial inclusion in NTT.
- PT Telkom Indonesia (Parent Company)coreFinpay (through parent company PT Finnet Indonesia) is a subsidiary of PT Telkom Indonesia via Telkom Metra, with additional collaboration with Yayasan Kesejahteraan Karyawan Bank Indonesia through Mekar Prana Indah. This ownership structure provides Finpay with enterprise-grade infrastructure backing, regulatory credibility, and access to Telkom's extensive business network.
- TelkomselcoreFinnet was appointed as Bill Payment Switching provider for Telkomsel, enabling telecommunications bill payment services through the Finpay platform. This partnership has enabled Finpay to process prepaid credit purchases and postpaid bill payments for millions of Telkomsel customers.
- Bank Partners (BRI, BNI, BTN, Mandiri, BCA, BSI, BJB, DKI, Permata, Maybank, Mega, BNC, Bank Nagari)coreIntegration with 80+ registered banks enabling virtual account payments, direct debits, and instant payment processing. These partnerships allow Finpay to offer comprehensive bank transfer options across all major Indonesian financial institutions.
- E-wallet Partners (Dana, OVO, ShopeePay, LinkAja)corePartnership with major Indonesian e-wallet providers enabling diverse digital payment options including LinkAja, Finpay Money, Dana, OVO, and ShopeePay. These integrations expand payment method coverage for Finpay merchants.
- Retail Payment Partners (Alfamart Group, Yomart Group, POS Indonesia, Pegadaian, Indomaret)minorCash payment channel partnerships enabling Finpay Code payments through extensive retail networks across Indonesia, providing payment options for customers without bank accounts or digital wallets.
Scale indicators7 records
Recent moves8 records
Expansion highlights5 records
Finpay competitors and assessment
Company assessmentBroad incumbents
- Adyen: Global unified commerce platform offering payment processing, acquiring, and financial products through a single API. Comparable to Finpay at the architectural level (single API, multiple payment methods, omnichannel) but serves global enterprise merchants rather than Indonesia-focused SMBs.
- Stripe: Global internet payment infrastructure platform offering payment processing, virtual accounts, and disbursements via developer-first APIs. Comparable to Finpay in API-first gateway positioning and developer experience focus, but at global scale and with stronger developer mindshare.
Direct peers
- Veritrans Indonesia: Indonesian payment gateway offering card processing, virtual accounts, and convenience store payments. Direct competitor in the Indonesian online payment space with overlapping merchant base, particularly in retail and e-commerce.
- Nicepay: Indonesian payment gateway providing online payment processing for cards, virtual accounts, and e-wallets. Direct competitor targeting similar enterprise and SME segments in Indonesia with comparable product breadth.
- Doku: One of Indonesia's earliest payment gateway providers, offering online payment processing, virtual accounts, cards, and e-wallet integrations. Competes head-to-head with Finpay on Indonesian merchant acquiring, bill payment, and disbursement, with similar long-tenured bank and biller relationships.
- Midtrans: Indonesian payment gateway operated by GoTo (Gojek-Tokopedia), offering card processing, virtual accounts, e-wallets, and convenience store payments. Directly competes with Finpay and benefits from deep integration with Gojek and Tokopedia's massive merchant ecosystem.
- iPaymu: Indonesian payment gateway offering virtual accounts, e-wallets, QRIS, and convenience store payments for SMEs and enterprises. Direct competitor in the Indonesian merchant payment gateway space with overlapping customer segments.
- Xendit: Indonesia- and Southeast Asia-focused payment gateway providing API-first payment processing, virtual accounts, e-wallets, cards, and disbursements. Directly competes with Finpay across the same Indonesian merchant segments and product categories, with greater VC funding and modern developer tooling.
Emerging players
- Ayoconnect: Indonesian open finance API platform connecting to banks, e-wallets, and telcos for account verification, disbursement, and payment initiation. Emerging player in adjacent infrastructure space that could expand into Finpay's disbursement and core gateway territory over time.
Regional players
- 2C2P: Southeast Asia-focused payment service provider covering Thailand, Singapore, Malaysia, Indonesia, and the Philippines. Comparable to Finpay in product offering (gateway, acquiring, alternative payments) but operates across multiple Southeast Asian geographies rather than Indonesia alone.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Finpay social profiles
Digital presenceFinpay compliance and trust
Trust signalCompliance9 records
Finpay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Finpay leadership team
Management profileNumber of profiles
Profiles7 records
Finpay funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Finpay 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 Finpay
What does Finpay do?
Finpay (legally PT Finnet Indonesia) provides a comprehensive digital payment infrastructure platform for Indonesian businesses, offering payment gateway services, fund disbursement, billing management, electronic money issuance, and international remittance. The platform integrates with more than 80 banks, multiple e-wallets, retail cash networks and 524 billers to enable diverse payment methods including virtual accounts, QRIS, cards, and paylater options.
Is Finpay a public or private company?
Finpay is a private company. It is classified as corporate owned and is currently operating.
When was Finpay founded?
Finpay was founded in 2005. It employs 101 to 250 people.
Where is Finpay based?
Finpay is headquartered in Jakarta, Indonesia, in the Asia region.
How does Finpay make money?
Eight revenue lines are on record. Transaction Fees - Virtual Accounts are the primary driver. The others are transaction Fees - Credit/Debit Cards, transaction Fees - E-wallets, transaction Fees - QRIS, transaction Fees - Instant Payments, transaction Fees - Direct Debit, transaction Fees - PayLater/Installments and modern Channel Cash - Finpay Code.
Who are Finpay's main competitors?
Broad incumbents on record are Adyen and Stripe. Direct peers are Veritrans Indonesia, Nicepay, Doku, Midtrans, iPaymu and Xendit. Ayoconnect is listed as an emerging player. 2C2P is listed as a regional player.
Does Finpay have an API?
Yes. Finpay provides a public-facing API for developers to integrate payment gateway functionality into their own platforms. The platform offers a sandbox environment for testing integrations, with a simulator for transaction testing. Available API products include: Finpay Payment Gateway (Core API for Hosted Payment and API integration), Finpay Disbursement (Core API for fund transfers to single or multiple accounts), Finpay Billing (Core API x Source Of Fund for automated billing notification and payment processing), Finpay Widget (for embedding bill payment and purchase widgets into websites or applications). Developer documentation is at docs.finpay.id.
What industry is Finpay in?
Finpay's product category is Digital Payment Infrastructure. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAGABAA, Payment Orchestration Platforms. Its NAICS code is 52232 and its SIC code is 6199.