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Xendit is a Top Payment Gateway for Credit and Debit Cards and Bank Transfers in Southeast Asia

Xendit Is A Top Payment Gateway For Se Asia
Matt Walker

Written by: Matt Walker

Matt Walker
Matt Walker

Copywriter and credit card strategist Matt Walker leverages his 15-plus years of experience to cover the finance industry through comprehensive consumer guides and in-depth features. His vast knowledge of the ins and outs of finance allows him to translate complex financial topics into readable articles suited for credit newbies and the most seasoned, tech-savvy investors alike. Matt’s straightforward language highlights the latest developments in the industry — from credit cards to credit unions — and informs consumers on how they can benefit from them.

Edited by: Lillian Guevara-Castro

Lillian Guevara-Castro
Lillian Guevara-Castro

Lillian Guevara-Castro brings more than 30 years of editing and journalism experience to the CardRates team. She has written and edited for major news organizations, including The Atlanta Journal-Constitution and the New York Times, and she previously served as an adjunct journalism instructor at the University of Florida. Today, Lillian edits all CardRates content for clarity, accuracy, and reader engagement.

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Advertiser Disclosure

In a Nutshell: Payment processors are essential to the success of many businesses today. And, in just a few short years, Xendit has proven itself to be a dependable and secure leader when it comes to payments in Southeast Asia and Indonesia. Not only does Xendit provide services geared toward the user of today, but it positions other innovative services to help consumers transition into the future. Part of the company’s mission is to lead Southeast Asia and Indonesia into the modern payments era. Xendit is also helping businesses who have been impacted by the COVID-19 pandemic. Because of its pioneering efforts and commitment to providing quality payment processing services, we are recognizing Xendit with our Editor’s Choice™ Award for Top Payment Processor.

In a global marketplace where credit cards, debit cards, and digital transactions are more prevalent than ever, it’s essential for businesses to have a quality payment processor in their corner.

These companies handle transactions by serving as the middleman between the customer’s payment and bank, and the business’s bank. Without payment processors, we’d basically still be in a cash-only society.

Xendit LogoAs with any industry, some payment processors are better than others. The best of these companies make it so easy to use their services that businesses hardly notice they are there.

And, in Southeast Asia and Indonesia, Xendit is regarded as one of the best in the business.

“With a single integration, enable your business to accept payments in Indonesia. Credit and debit cards, e-wallets, bank transfer, and more,” according to Xendit.

The company helps businesses make payments simple, secure, and easy for their customers and processes millions of transactions each month. Xendit also helps businesses grow by providing a suite of world-class APIs, according to the company.

For its client-focused products, convenience, and solid reputation among businesses in Southeast Asia and Indonesia, we are recognizing Xendit with our Editor’s Choice™ Award for Top Payment Processor.

A Payment Pioneer in Indonesia and Southeast Asia

Xendit was established in 2015 by Co-Founders, CEO Moses Lo, COO Tessa Wijaya, CTO Bo Chen, and CIO Juan Gonzalez. The team first examined consumer habits in Indonesia and tapped into peer-to-peer payments, with particular regard to the country’s huge market and developing technology, but low credit card penetration, said Lo.

“The company’s early customers loved how Xendit solved their problems and helped their businesses to easily accept and disburse payments in a faster and more reliable way,” the CEO explained. “The demand gave Xendit’s founders the idea of serving as a payment gateway company in Indonesia and steering its business from B2C to B2B.”

Moses Lo

Moses Lo is CEO and Co-Founder of Xendit.

So, the following year, Xendit began operating as a payment gateway with a mission to make payment systems in Indonesia to be as advanced as other countries in various parts of the world.

As the first Indonesian startup to successfully graduate from the prestigious YCombinator incubator in Silicon Valley, Xendit continues to innovate and develop technology to achieve its vision and mission, Lo said.

“Our main focus is to build the most advanced payment rails for Indonesia, with a clear goal in mind — to make payments in Indonesia simple, secure and easy for everyone,” according to the Xendit website. “We currently serve local SMEs to some of Indonesia’s largest tech startups and also giant-sized businesses like Samsung.”

The company has grown 25% month over month for the last two years, and is trusted and backed by some of the largest VCs in the world, including investors in Facebook, Slack, and Twitch.

Offering a Range of Products that Give Users a Simple, Efficient Payment Platform

Xendit is committed to efficient, secure payment processing and also makes a point to understand what services are most valuable to clients in the areas it serves.

“In Indonesia, credit card penetration is still low and bank transfer remains a favorite payment channel,” said COO Wijaya. “This reflects Xendit’s clients’ behavior as the virtual account is one of the most used products.”

Tessa Wijaya

Tessa Wijaya is COO and Co-Founder of Xendit.

XenInvoice is another product that stands out in its lineup, she said.

“It is a popular go-to solution for small, medium, and enterprise customers alike, given its feature of simple implementation that allows customers to get a customizable hosted checkout page to payment status notification,” Wijaya said.

Products like this help Xendit clients accept payments efficiently and manage their businesses effectively.

Wijaya said that Xendit products and technologies were created with the aim of making it easier for companies to run their business without having to worry about payment and reconciliation processes.

“We want entrepreneurs and corporate leaders to focus their attention on business development strategies and advance their business without having to worry about the process of cash in and out or reconciliation at the end of the month,” she explained.

Xendit created its products with ease of integration and ease of use in mind, and with the aim that they could evolve as the company grew.

“If a company doesn’t have their own website or system, they can easily use our platform. But companies that already have a technical team and a website can quickly integrate with our system via an API,” Wijaya said.

The company also prioritizes listening and responding directly to user feedback.

“On top of daily communications, Xendit’s Account Managers and Product Managers conduct regular joint customer feedback sessions to explore how to serve our customers better,” Wijaya said. “A less frequent but regular medium is by email whenever Xendit has more formal news and updates on products.”

Continuing to Innovate while Helping Businesses Navigate the COVID-19 Pandemic

Lo also discussed some of Xendit’s newest products, including Xendit QR Code and Direct Debit, as well as how the company is responding to the COVID-19 pandemic.

“In line with Bank of Indonesia’s initiative to make Indonesia’s digital payment more seamless, since April 2020, Xendit has provided QR codes as an additional payment channel to allow clients’ customers to pay seamlessly from top eWallets like OVO, Gopay, DANA, LinkAja, ShopeePay and top mobile banking applications, including BCA, CIMB,” he said.

And Xendit’s Direct Debit is a payment method where end users can register their debit cards or online bank login with a merchant through Xendit. After a one time authorization, merchants can pull funds directly from an end user’s bank account without OTP, Lo explained.

And, just as so many businesses around the world have stepped up to help other businesses and individuals navigate the COVID-19 pandemic, so too has Xendit.

“Xendit has launched a Business For Good initiative to support up to 200 SMEs, authorized charities, and non-profit organizations during this challenging time in ensuring their business continuity,” Lo said.

The Business for Good program offers two types of financial support in the form of grants and flexible financing options.

“Grants help businesses and non-profit organizations to go digital and start accepting payments within a few working days,” Lo said. “Xendit will enable various payment methods, and we will waive transaction fees for one month.”

Xendit’s flexible financing initiative can help businesses cover operating expenses, including payroll needs, Lo said. And businesses can take advantage of low interest rates and repay as they earn.

“In addition to that, Xendit also created a special page on COVID-19 resources on their website that contains articles and blogs that can be used as inspiration in dealing with this pandemic situation,” Lo said.

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