Indonesia is Southeast Asia's largest e-commerce market, but credit card penetration is low and a substantial share of the population remains unbanked, so bank virtual account (VA) transfers, rather than cards, have become the default for online payment. Major banks including BCA, Mandiri, BNI, and BRI support VA, and consumers are already accustomed to depositing into an order-specific account number through mobile banking or an ATM.

For higher-ticket categories such as appliances, airfare, and education services, where consumers tend to choose a bank transfer over a wallet balance, and more broadly for any B2C shop selling to Indonesian consumers, given the market's low card usage, VA should effectively be treated as the default method to consider. Customers who lean toward small-value wallet payments are naturally covered by complementing this with GoPay, DANA, and similar wallets.

Once an order is created, the consumer is shown a dedicated virtual account number for that order and transfers the amount to it through mobile banking, internet banking, or an ATM. Since the order is confirmed only once the deposit is confirmed, this is an asynchronous structure, and managing the pending-payment state and handling deadline expiry are the key parts of integration design. Hecto Financial receives the deposited funds in rupiah, converts the currency, and settles with the merchant in Korea in the contracted currency among USD, KRW, and JPY.

Through Hecto Financial, a business in Korea can review the VA channels of major banks together without entering into separate contracts with each Indonesian bank. Coverage per bank, along with the settlement cycle, fees, and currency options, varies by merchant industry and transaction volume, so consult with the sales team before signing a contract.

• Business registration country

  Confirm whether a contract is available for businesses registered in Korea

• Sales channel

  The integration approach differs depending on whether you sell online only or also operate offline stores in Indonesia

• Product categories

  Check in advance whether your products fall under categories restricted by Virtual Accounts Indonesia operators' merchant policies

• Local regulatory compliance

  Confirm compliance with Indonesia's payment and foreign exchange regulations (see official sources below)

Amounts deposited into a virtual account arise entirely in rupiah (IDR). Hecto Financial receives and converts these funds in the local currency, then settles with the merchant in Korea in the currency selected in the contract among USD, KRW, and JPY, with the settlement cycle and fee rate set by the contract terms. Because of how bank transfers work, refunds take the form of a reverse transfer to the consumer's account, so be sure to check the refund process and processing timeline before signing the contract.

• Bank IndonesiaOfficial information on Indonesia's payment system and related regulations. If this page's content differs from actual regulations, the official source takes precedence.