Coda Payments
Singapore-based Merchant of Record powering Codashop top-ups across Southeast Asia with GCash, DANA, OVO, and GrabPay
Coda Payments is a Singapore-headquartered Merchant of Record for digital publishers, operating the Codashop top-up marketplace that supports 400+ payment methods across 80+ markets, with deep Southeast Asian e-wallet coverage (GCash, DANA, OVO, GrabPay). It is best for global game and digital-content publishers who want regulatory compliance and localized SEA payment methods without building market-by-market integrations; it holds a MAS Major Payment Institution license as of 2026. Pricing is transaction/commission-based and not published.
Judged on regional fit, not vendor glossies.
Thailand top-ups confirmed via publisher campaigns, but payment-method depth less documented than Philippines/Indonesia.
Strong e-wallet coverage across Philippines, Indonesia, and Malaysia; MAS-licensed Singapore entity.
No LINE Official Account integration found.
Codashop itself is a marketplace, but no confirmed Shopee/Lazada/TikTok Shop merchant integration.
Designed for publishers with meaningful transaction volume; commission-based pricing not published for smaller sellers.
- ✓MAS Major Payment Institution license adds regulatory credibility as a regulated Singapore entity
- ✓Deep integration with SEA's dominant e-wallets: GCash, DANA, OVO, GrabPay
- ✓Merchant of Record model removes tax and compliance burden from publishers
- ✓Established gaming publisher roster: Activision, EA, HoYoverse, Moonton
- ×No published flat pricing; take-rate varies by market and payment method
- ×Focused on gaming/digital goods, not general e-commerce or retail SaaS
- ×Thailand and Vietnam payment-method depth less documented than Philippines and Indonesia
About Coda Payments
Coda Payments is a Singapore-headquartered fintech company that operates as a Merchant of Record for digital publishers, best known for its Codashop marketplace that lets consumers top up in-game currency and digital content for titles from publishers including Activision, Electronic Arts, HoYoverse, and Moonton. Coda supports more than 400 payment methods across over 80 markets, with deep Southeast Asian coverage of e-wallets and local payment rails including GCash, DANA, OVO, and GrabPay; in the Philippines alone, GCash accounts for roughly 75% of Codashop transaction volume. In 2026, Coda secured a Major Payment Institution license from the Monetary Authority of Singapore, formalizing it as a regulated payments platform, and has run a "Guard Your Game" anti-scam campaign across Indonesia, Malaysia, the Philippines, and Singapore.
Key Features
Best For
Southeast Asia Fit
Coda is a Singapore-headquartered Merchant of Record founded around gaming payments, with its Codashop marketplace embedding Southeast Asian e-wallets and local payment rails — GCash, DANA, OVO, and GrabPay — directly into the checkout flow for global game publishers. In the Philippines, GCash alone drives about 75% of Codashop's transaction volume, and Coda's 2026 Guard Your Game anti-scam campaign spans Indonesia, Malaysia, the Philippines, and Singapore, reflecting a business built around SEA's mobile-wallet-first payment landscape rather than card-based payments common elsewhere.
- Thailand fit
- 6/10 (Codashop reportedly operates in Thailand per top-up campaigns, though Thai-specific payment method depth is less documented than Philippines/Indonesia)
- SEA localization
- Deep for the Philippines (GCash ~75% of volume) and Indonesia/Malaysia (DANA, OVO, GrabPay); Vietnam and Thailand coverage confirmed via publisher top-up campaigns but less detailed.
- Singapore
- Indonesia
- Philippines
- Malaysia
- Thailand
- Vietnam
Integrations
- Payment
- GCash
- DANA
- OVO
- GrabPay
- ↗Coda operates as a Merchant of Record, simplifying global payments for digital publishersverified 2026-08-23
- ↗Coda secured a Major Payment Institution license from the Monetary Authority of Singaporeverified 2026-08-23
- ↗GCash accounts for roughly 75% of Codashop's Philippine transaction volume; Coda's Guard Your Game campaign spans Indonesia, Malaysia, the Philippines, and Singaporeverified 2026-08-23
- ↗Coda supports more than 400 payment methods across over 80 markets, with publisher partners including Activision, EA, HoYoverse, and Moontonverified 2026-08-23
- ↗Coda Payments Official Website
- ↗Coda Payments Pricing Plans
- ↗SEA Operational Audit 2026
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Related Analysis & Guides
The questions operators actually ask.
What payment methods does Coda support in the Philippines?
Codashop in the Philippines supports 11 active payment methods, with GCash accounting for about 75% of transaction volume.
Is Coda Payments regulated?
Yes, Coda holds a Major Payment Institution license from the Monetary Authority of Singapore, obtained in 2026.
What is Coda's core business model?
Coda operates as a Merchant of Record, taking on regulatory, tax, and payment compliance for digital publishers in exchange for a commission on gross transaction value.