Indonesian financial technology firm Xendit is expanding its operations in the Philippines, aspiring to be the country’s digital financial highway, to serve as a platform for consumer e-wallets such as Paymaya and GCash.
Xendit’s solutions simplify the payment process for businesses in Southeast Asia, from SMEs, e-commerce startups to global corporations.
Its payment system can accept payments from bank accounts, credit and debit cards, eWallets, retail outlets and online installments.
“While we see increasing demand for digital transactions, we understand that many businesses in the Philippines have not yet fully embraced the digitalization journey,” noted Yang Yang Zhang, Managing Director, Xendit Philippines.
Xendit offers a technically advanced yet user-friendly process that allows businesses of all sizes to easily send and accept payments.
Through Xendit, any business can go live in less than a day using modern APIs and a dashboard that makes settlement, reconciliation, and accounting simple.
Xendit’s product portfolio allows businesses to accept major payment methods with fast activation times.
“By working with Xendit to increase the accessibility of digital payments for our users, we can contribute to financial inclusion, innovation, and competitive costs,” according to Jonathan Bates, Head of GrabPay Philippines.
The GrabPay wallet uses Xendit Direct Debit, through which customers can link their bank accounts just once to seamlessly top up their GrabPay balance.
This first-to-market product, now live for BPI, UnionBank and (soon!) BDO, lets customers link their bank accounts for both one-time and recurring payments, secured by successful completion of two-factor authentication (2FA).
Xendit is secure as well. Its fraud detection system pre-emptively blocks payments that are deemed high-risk.
“Its fraud management tools ensure that even the most traditional businesses feel comfortable accepting payments online for the first time,” adds Carlo Almendral, CEO of TARA!, a contact tracing application using Xenpayments to enable Department of Tourism (DoT)-accredited merchants to accept payments via direct debit, credit cards, e-wallets and retail outlets.
The fin tech firm began operating in Indonesia in 2015 and is now a leading name for digital payments across both businesses and customers.
Xendit serves local small and medium enterprises (SMEs) but also some of Indonesia’s largest tech startups and the world’s largest businesses.