Ipay88 Indonesia

What Ipay88 Indonesia does

Ipay88 Indonesia operates as a payment gateway provider serving merchants from micro and small businesses (UMKM) through large corporations across Indonesia. The legal entity, PT Dinamik Mobile, is headquartered at Grand Slipi Tower in West Jakarta, and is part of a regional iPay88 group also present in Malaysia, Thailand, and Singapore since 2010. The company holds an official Bank Indonesia payment gateway license, PCI DSS compliance certification (verified by ControlCase), and is registered as a Visa Service Provider, establishing regulatory standing in Indonesian payment processing.

The platform is built on the Online Payment Switching Gateway (OPSG) v2.1.0, a JSON-based API using SHA256 signature authentication that supports multiple payment methods including credit/debit cards from major Indonesian banks, virtual accounts from 8 banks, online banking (CIMB Clicks, D-Bank Pro, Jenius Pay), e-wallets (OVO, DANA, LinkAja, ShopeePay), QRIS (dynamic and static), over-the-counter payments at Alfamart and Indomaret, and buy-now-pay-later options (Kredivo, Akulaku, Indodana, Atome). The product surface consists of three core offerings: Link Payment (pay-by-link via chat), Direct Payment (e-commerce and marketplace integration), and POS (in-store point-of-sale). The platform ships pre-built plugins for 8 major CMS and e-commerce platforms (WooCommerce, Magento, OpenCart, PrestaShop, VirtueMart, WHMCS, Drupal, WP Charitable) plus a Shopify App Store listing, enabling self-serve onboarding for SMB merchants.

Revenue is generated through transaction-based fees on payment processing plus merchant subscription/access components (merchant code and merchant key provisioning), with quote-based pricing applied to merchants. The company reports 1,000+ merchant partners, 1 million platform users, and 200 billion in monthly transaction value (reported as IDR), and operates with a publicly reported headcount of 6 employees for the Indonesian entity. Go-to-market is API-first and channel-partner driven, combining direct integration, CMS plugin distribution, Shopify App Store presence, and WhatsApp/email sales outreach. A risk and fraud management layer with geo/card-issuer filtering, frequency and amount limits, and a shared blacklist database supports the transaction processing stack.

Name

Ipay88 Indonesia

Legal name

PT Dinamik Mobile

Website

https://ipay88.co.id

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

iPay88 Indonesia (PT Dinamik Mobile) is a Bank Indonesia-licensed payment gateway serving UMKM and corporate merchants across Indonesia, Malaysia, Thailand, and Singapore. It offers Link Payment, Direct Payment, and POS products via its OPSG v2.1.0 API, supporting 25+ payment methods including cards, virtual accounts, e-wallets, QRIS, OTC, and BNPL.

Ownership category

akta.pro rank

Product category

Payment Gateway Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

akta.pro primary industry

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

akta.pro secondary industries

Alternative Payment Methods (APMs) & Local Rails (ACH/SEPA/UPI, etc.) (CRAFALAG), Integrated Payment Processors (PSP/Acquirer) (FSAMABAA), Merchant-Integrated BNPL (Checkout POS Financing) (FSAGAIAA)

Keywords

• Payment gateway services
• Online payment processing
• Payment API integration
• E-commerce payment solutions
• Multi-channel payment platform

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, Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Payment Processing Fees: iPay88 charges merchants transaction fees for processing payments through its gateway. Supports multiple payment methods including credit cards, virtual accounts, e-wallets, QRIS, and over-the-counter cash payments.
2. Subscription/Service Fees: Merchants require a merchant code and merchant key to access the platform, suggesting a service subscription model for access to payment gateway services.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

iPay88 Indonesia operates a Bank Indonesia-licensed payment gateway platform that processes online and offline transactions for merchants ranging from UMKM to large corporations. The platform delivers three core products — Link Payment, Direct Payment, and POS — unified through a single dashboard with real-time monitoring. It supports 20+ payment channels including credit/debit cards, virtual accounts, online banking, e-wallets, QRIS, over-the-counter, and buy-now-pay-later, accessible via API and pre-built plugins for major e-commerce platforms.

Product overview

iPay88 Indonesia operates as a payment gateway platform offering three core products: Link Payment, Direct Payment, and POS. The platform provides comprehensive online and offline payment solutions serving businesses from MSMEs to corporations across various industries. Link Payment enables payment links sent via chat, Direct Payment integrates into e-commerce stores and marketplaces, and POS handles in-store transactions. The platform supports diverse payment methods including credit/debit cards, virtual accounts from 8 major Indonesian banks, e-wallets (OVO, DANA, LinkAja, ShopeePay), QRIS, over-the-counter payments (Alfamart, Indomaret), and buy-now-pay-later options (Akulaku, Indodana, Kredivo, Atome). All products are managed through a unified dashboard with real-time transaction monitoring and are supported by extensive API documentation and plugins for major e-commerce platforms.

Differentiator

Problem solved

Functional benefit

Products and services

• Link Payment A payment link solution that enables businesses to send payment links directly to customers via chat applications or other media. Customers complete transactions with a single click without visiting a store or website.
• Direct Payment An integrated payment solution that connects directly to online stores and marketplace channels, enabling businesses to increase sales by offering multiple payment methods at checkout.
• POS (Point of Sale) A point-of-sale system for in-store transactions that processes all payments quickly without long cashier queues. All transaction data is recorded and integrated directly into the dashboard for easy management.
• Online Payment Switching Gateway (OPSG) v2.1.0 API A public JSON-based API payment gateway enabling merchants to integrate payment processing into their websites and applications. Supports HTTP POST requests with SHA256 signature encryption, multi-currency transactions (IDR, USD, THB, MYR), and both sandbox and production environments. Used by developers to embed iPay88 payment processing directly into custom platforms.

Quantifiable outcome

• 200 billion transactions processed per month
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration23 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core.

• DrupalcoreTechnology or IntegrationiPay88 provides a pre-built plugin (commerce_ipay88) for Drupal 7.x CMS, supporting all payment methods except Kredivo. Merchants can download and install the plugin directly from iPay88 documentation portal.
• MagentocoreTechnology or IntegrationiPay88 provides a hosted plugin (ipay88-hosted-magento) for Magento 1.9.x, supporting all payment methods except Kredivo. Direct download available from iPay88 portal.
• OpenCartcoreTechnology or IntegrationiPay88 provides multiple plugins for OpenCart versions 1.5, 2.x, and 3.x supporting credit cards, online banking, ATM transfer, e-wallets, and online credit options. Separate downloads for each version and payment method.
• PrestashopcoreTechnology or IntegrationiPay88 provides plugins for Prestashop 1.6 and 1.7 supporting all payment methods including credit cards, online banking, ATM transfer, e-wallets, and online credit (Kredivo).
• VirtueMartcoreTechnology or IntegrationiPay88 provides a plugin (ipay88-virtuemart v2) for VirtueMart 2.x supporting all payment methods except Kredivo.
• WHMCScoreTechnology or IntegrationiPay88 provides plugins for WHMCS versions 5.x, 6.x, 7.x, and 8.x supporting all payment methods including Kredivo. Separate downloads for each version.
• WooCommercecoreTechnology or IntegrationiPay88 provides comprehensive plugins for WooCommerce versions 4.x, 5.x, and 9.x supporting credit cards, online credit, ATM transfer, e-wallets, and QR payments. Also supports WooCommerce Bookings.
• WP CharitablecoreTechnology or IntegrationiPay88 provides a plugin (ipay88-charitable-v1.0.3) for WP Charitable 1.6.x supporting all payment methods except online credit.
• ShopifycoreTechnology or IntegrationiPay88 is available as an app on Shopify App Store (apps.shopify.com/ipay88-indonesia). Shopify merchants can directly install and activate iPay88 payment methods through the Shopify admin dashboard.
• Payment Method Partners (Banks and E-wallets)coreTechnology or IntegrationiPay88 integrates with multiple banks for virtual accounts (BCA, BRI, BNI, Mandiri, Maybank, Permata, CIMB, Danamon), credit/debit cards (BCA, BRI, CIMB, Danamon), online banking (CIMB Clicks, D-Bank Pro, Jenius Pay), e-wallets (OVO, DANA, LinkAja, ShopeePay), QRIS, and over-the-counter (Alfamart, Indomaret).

Scale indicators5 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Midtrans: Indonesia-focused payment gateway owned by GoTo Group, supporting cards, bank transfers, e-wallets (GoPay and others), and convenience store payments. Directly competes with iPay88 in the Indonesian online merchant acceptance market.
• DOKU: One of Indonesia's longest-standing payment gateways, offering online payment processing, VA, e-wallet, and QRIS acceptance to merchants across the country. Closely comparable to iPay88 Indonesia on customer segment (UMKM to enterprise) and product breadth.
• Xendit: Indonesia- and SEA-headquartered payment gateway serving SMBs and enterprises across Indonesia, Philippines, Malaysia, and Vietnam. Competes head-to-head with iPay88 on multi-payment-method acceptance and developer-first integration.
• 2C2P: Southeast Asian payment service provider covering Thailand, Singapore, Malaysia, and Indonesia with cards, alternative payments, and payment orchestration. Comparable multi-country Southeast Asia footprint and enterprise-leaning merchant base.
• Razer Merchant Services: SEA payment gateway (formerly MOLPay) serving Malaysia, Indonesia, Thailand, Singapore, and the Philippines with online payment processing for merchants. Direct competitor in cross-border SEA merchant acceptance.
• Ayoconnect: Indonesian open finance and payment gateway platform offering payment acceptance, account verification, and disbursements to merchants and platforms. Overlaps with iPay88 on merchant payment orchestration and API-first delivery.
• Finpay: Indonesia-focused payment gateway providing online payment processing, VA, and e-wallet aggregation for merchants. A closer SMB-side peer to iPay88 given similar customer focus and Indonesian rails coverage.

Emerging players

• Faspay: Indonesia-focused payment gateway serving SMB and enterprise merchants with online payment processing across local methods. Comparable niche focus and product scope to iPay88 in the Indonesian market.

Broad incumbents

• PayPal: Global payment network with cross-border consumer and merchant payment acceptance. Competes with iPay88 for Indonesian merchants needing international card and wallet acceptance as part of a broader commerce platform.
• Stripe: Global online payment processor with growing presence in Southeast Asia. Broader portfolio of products (payments, billing, fraud, issuing) competes with iPay88 for cross-border and enterprise Indonesian merchants seeking global-scale infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/ipay88-indonesia

Compliance3 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 Ipay88 Indonesia