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Virtual Account (ID)
Virtual Accounts (VA) in Indonesia are ad-hoc bank account details to receive bank payments to real bank accounts without sharing the underlying bank details. Each bank has their own system of creating and managing VAs
Method
Virtual Account (ID)
LPM Market Share
50%
Payments
Yes
Refunds
No - refunds not supported
Type
Bank Transfer
Local Card Scheme
Users
135M
Disbursements
Yes
Yes
Chargebacks
$25.00
Authorization currency
IDR
Authorization
speed
speed
Instant
Recurring
No
No
Reasons for Popularity
Compared to bank transfers, virtual accounts are usually not charged additional fees by banks or transaction service providers
Users can directly make payments by copying the virtual code they get and the transaction will automatically be recorded under their name with the nominal that has been given
Virtual accounts allow payments to be made by anyone including those who do not have a bank account
