Virtual Accounts

Simplifying Local Payments with Greater Flexibility in Indonesia
Indonesian Virtual Accounts are a widely used payment solution that enables customers to complete transactions in Indonesian rupiah by transferring funds to a unique virtual account number. Payments can be made through mobile banking, internet banking, or ATMs, offering a secure and convenient way to manage bills and purchases without needing a credit card.
Country:
Indonesia
Population (Indonesia)
277.5 million (estimated)
Number of Internet users
221.5 million (estimated, early 2024)
Popular payment methods
Digital wallets, Debit Cards, Credit Cards, Bank Transfers, Cash Payments
Credit Card
0%
Debit Card
0%
Digital Wallets
0%
Cash Payments
0%
Bank Transfers
0%
Other
0%

Type:

Digital Wallet

Total Customers:

> 12 million (estimated)

Currency:

Multi-currency

Money transfer volume:

1 billion USD (estimated)

Coverage:

25% of online banking users globally (estimated)

Refunds:

Yes

Chargebacks:

Yes, limited, assessed on a case-by-case basis

Type:

Digital Wallet

Total Customers:

> 12 million (estimated)

Currency:

Multi-currency

Money transfer volume:

1 billion USD (estimated)

Coverage:

25% of online banking users globally (estimated)

Refunds:

Yes

Chargebacks:

Yes, limited, assessed on a case-by-case basis

About payment system

Virtual accounts offer a modern, flexible way to manage financial tasks by allowing users to create dedicated accounts for specific needs. Typically linked to a primary bank account, these accounts can be set up quickly through digital banking platforms or third-party financial services, providing a streamlined approach to financial organization. Businesses often rely on virtual accounts to separate funds by department, client, or project. This structure enhances clarity, simplifies accounting, and reduces administrative overhead. They are also frequently used to receive payments from customers or partners, enabling accurate tracking and easier reconciliation of incoming funds. For individuals, virtual accounts can serve as helpful tools for budgeting and saving. Whether setting aside money for a holiday, managing household expenses, or tracking specific financial goals, virtual accounts make it easier to allocate and control funds with greater precision. By removing the need for physical documentation and manual processing, virtual accounts support the broader shift toward digital finance. Their adaptability, ease of use, and ability to tailor financial workflows make them an attractive solution for anyone looking to streamline money management in today’s increasingly digital environment.

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