Paper.id introduces another breakthrough with the launch of PaperXB, the first solution in Indonesia that enables businesses to make cross-border payments using credit cards. This innovation allows entrepreneurs to expand into global markets more easily, without the complexity and high costs typically associated with international transactions.
The feature has the potential to open access to business transactions in over 200 countries, empowering local businesses to connect with international markets without the payment barriers that have long been a major challenge. In its initial phase, PaperXB will prioritize five key destination countries for transactions: Malaysia, Thailand, Singapore, the United States, and China—nations with strong trade ties to Indonesia.
The launch of PaperXB coincides with the month of Ramadan, a peak period for business demand. With this solution, entrepreneurs can pay global suppliers without disrupting their cash flow, ensuring that inventory remains stocked through to Eid al-Fitr.
A More Efficient Cross-Border Payment Solution for Indonesian Businesses
Cross-border payments have long been plagued by challenges such as high remittance fees, delayed transactions, and limited payment methods. PaperXB addresses these issues by offering credit card-based payments—enabling faster processing times, more cost-effective fees, and greater flexibility for business owners.
According to data from Bank Indonesia, cross-border transactions in the country have grown by more than 30% over the past five years, fueled by the rapid expansion of digital businesses and global trade. However, many MSMEs (Micro, Small, and Medium Enterprises) still struggle to access global financial services, hindered by limited payment options and uncompetitive costs.
“PaperXB is more than just a payment solution—it’s a strategic leap forward for Indonesian businesses to compete on the global stage. By simplifying cross-border payments through credit cards, we aim to remove the financial barriers that have long restricted local business growth,” said Yosia Sugialam, CEO of Paper.id.
How PaperXB Supports Businesses?
PaperXB emerges as a tangible solution for Indonesian businesses to carry out international payments with faster processes, more cost-efficient fees, and easier access compared to conventional methods. It offers several key advantages—being more affordable than traditional remittance due to its competitive transaction fees compared to bank transfers, offering payment flexibility by allowing businesses to leverage credit card billing cycles without disrupting their cash flow, and providing broader access to global supplier networks, which opens the door to more favorable negotiations with international vendors. Transactions are also processed more quickly, eliminating the need to wait several days like with manual bank transfers.
For instance, consider a flower business owner in Bandung who regularly sources flower seeds from suppliers in Thailand. Within a single quarter, the value of these transactions can reach billions of rupiah, making payment flexibility a crucial factor in maintaining business continuity and managing operational cash flow. Now, with PaperXB, the entrepreneur can complete transactions using a credit card, benefit from more competitive exchange rates, and extend payment terms by up to 60 days. This allows the business to secure inventory more confidently, manage cash flow more effectively, and maintain steady operational capacity.
Backed by a Bank Indonesia-Licensed Partner, Ensuring Secure Transactions for Users
PaperXB collaborates with a licensed Level 1 Payment Service Provider, ensuring that all remittance services operate under the highest standards of security and compliance. With this partnership, PaperXB guarantees safer, faster, and more efficient cross-border transactions—offering a seamless solution for businesses aiming to expand into international markets without the burden of complex administrative barriers.
“With PaperXB, Indonesian businesses can now compete more confidently in the global market without worrying about payment issues. We provide a solution that accelerates transactions and optimizes cash flow management,” added Kinantia Subiantoro, VP of Operations at Paper.id.
Paper.id Sets a New Standard in Digital Financial Innovation
The launch of PaperXB further solidifies Paper.id’s position as a leader in digital financial solutions. Paper.id is the first platform in Indonesia to offer a cross-border payment solution using credit cards, setting a new benchmark for global business transactions.
“As a pioneer, we continue to innovate to deliver the best solutions for businesses in Indonesia. With PaperXB, we are not only creating convenience—we are building a future of business finance that is more efficient, transparent, and seamlessly integrated with the global ecosystem,” concluded Yosia Sugialam.
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