Payment Gateway iPayMu Supports PayPal; Partners with 137 Indonesian Banks

Indonesian payment gateway iPayMu has announced that it is now supporting payment via PayPal. This latest payment method is available to all iPayMu merchants and will help handle cross-border and multi-currency transactions. We spoke with Grandi Yusuf, the marketing manager of iPayMu, about the startup’s progress so far and what we can expect to see during iPayMu’s grand launch event next month.

Since the last time we talked with the team back in July, iPayMu has more payment options and bank partners. Besides the new PayPal support, the startup now connects to credit and debit cards, escrow, and takes money transfers from 137 banks across the country. The team has partnered with BII Bank and Niaga Bank for its credit card payment system. Merchants only need to set up one account to use all of those features.

Grandi said that iPayMu has cooperated with around 6,000 online merchants so far, and those are mainly SMEs and startups in Indonesia. He said that integrating iPayMu’s services into merchants’ websites or mobile applications is very easy as merchants can choose to integrate its online payments with either the plug-and-play method or using iPayMu’s open API. He added that this ease of usage and the number of aforementioned payment method options are what differentiates iPayMu from its competitors.

iPayMu originally was built only as a payment method for SEO service Marketbiz.net. After a while, the startup was further developed to support the project of Marketbiz’s owner, Riyeke Ustadiyanto, to help bring Indonesian SMEs online. In the end, iPayMu’s mission echoes that initial project’s aims, to build a better digital economy infrastructure in the country.

Grandi said that the team has been approached by numerous global investors, but has yet to find one with the same mission. They are now developing mobile apps for Android and iOS which will enable one mobile phone to be connected to iPayMu’s 137 banking partners. The team hopes that the apps will be ready by the time of iPayMu’s official launch next month.