The beautiful country of Indonesia is an archipelago nation that includes both land and water, located between the Pacific and Indian Oceans. With a stunning 14,752 islands and a strong tourist economy that welcomes some 12 million visitors a year, Indonesia has a young and fast-growing population of 264 million. The population’s median age is 28, according to the International Monetary Fund, and in total, Indonesia has 65 million young people who are between 10 and 24 years of age. They will be a formidable force for the country’s future advancement. For marketplaces looking to create a toehold in one of Asia’s most dynamic economies – whether you are a travel marketplace, a freelance marketplace, or an e-commerce marketplace for goods – a key factor in your success in connecting with the young population in Indonesia will be using the power of payments to attract the best sellers, freelancers, properties and more to your platform.

To get an on-the-ground perspective on what marketplaces for services and products should know about Indonesia, we consulted with Taufiq Kurniawan, Network Development Management for Indonesia for Transpay’s parent company, Transfast. The network development team’s role includes responsibility for building our network of banks and payout providers across Indonesia and staying abreast of trends to best assist our U.S.-based clients.


What is happening in Indonesia in terms of the gig economy? Is it growing as rapidly as it is here in the U.S.?

In terms of service marketplaces, the freelance economy in Indonesia is growing fast. In 2012, there were 60,000 Indonesian freelancers who registered on and now that number has already surpassed one million freelancers on popular sites including, or


What are freelancers (for service marketplaces) and sellers (for ecommerce marketplaces) looking for in terms of receiving their payouts from U.S. marketplaces?

As with recipients anywhere, Indonesians selling goods or services on a U.S.-based marketplace are looking to get paid in a way that has the lowest fees, good speed and high exchange rates. Transpay’s lower fees, high exchange rates and fast credit in minutes are key drivers in the popularity of its Local Bank Transfers. In fact, the trend in the past two years is toward bank transfers and the efficiency, transparency and convenience they provide to recipients.


What about Indonesia’s currency? What role does currency play in influencing how Indonesians want to be paid?

The Indonesian rupiah is always fluctuating against the U.S. dollar (USD). For that reason, Indonesian recipients have a strong preference for getting paid in USD.


In terms of payments methods, where are Indonesian’s preferences heading?

Local Bank Transfers are more popular amongst freelancers and e-commerce users, as there is a strong direct-to-bank preference. E-wallets are also popular, and cards are used, although they are less in demand.


What are the regulatory hurdles involved in sending funds to Indonesia? 

There are no barriers for Transpay clients, because parent company Transfast has its International Remittance License and always adheres to policies and local compliance with the Central Bank of Indonesia.


What are the Transpay network’s strengths in Indonesia?

We offer great breadth and depth in Indonesia. Our network offers real time/straight-through processing, along with low fees, no back-end charges, high exchange rates and the ability to credit to all banks in Indonesia. Secondary options like cash pickup are available if the marketplace asks Transpay to include it as one of the options for its recipients who might want to pick up their payouts in cash. We offer the largest network for cash pick-up in Indonesia, including more than 23,000 locations.


Who are the key payout partners in the network? 

Our network includes all major banks, including Bank Central Asia, Bank Rakyat Indonesia, Bank Negara Indonesia and Bank Syariah Mandiri. Other non-bank payout partners include major retail/convenience store chains and the Indonesian post office.


How are we further developing the Transpay network this year?

We have a lot of exciting new projects in the works. We’re currently in the midst of the integration process with Artajasa Pembayaran Elektronis, an interbank network provider which will enable instant bank transfers to all Indonesian banks as well as popular mobile wallets TCash and Dompetku.


Thank you, Indonesia network development team! For more information on Transpay’s ability to help you expand your operations in Indonesia, please contact a Transpay Local Bank Transfer Specialist today.

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