Xendit – The Payments Infrastructure Powering Southeast Asia’s Digital Economy
Company Location, Country, and Offices
Xendit (Xendit) is a leading Southeast Asian payment service provider headquartered in Jakarta, with significant offices in Singapore, Manila, Bangkok, Kuala Lumpur, and Ho Chi Minh City. The company’s regional footprint is designed to support localized payment methods, regulatory compliance, and merchant onboarding across some of the world’s fastest‑growing digital economies. Xendit’s operations focus on Indonesia, the Philippines, Thailand, Vietnam, and Malaysia, where digital payments are rapidly replacing cash‑based transactions.
History, Founders Profiles, and Directors
Xendit was founded in 2015 by Moses Lo and Tessa Wijaya, both alumni of Y Combinator with backgrounds in technology, payments, and entrepreneurship. Moses Lo, co‑founder and CEO, identified a major gap in Southeast Asia’s payments ecosystem: businesses lacked reliable, developer‑friendly tools to accept local payments efficiently. His vision was to build a modern payments API tailored specifically to regional payment behaviors.
Tessa Wijaya, co‑founder and COO, brought strong operational and product expertise, helping scale Xendit’s merchant onboarding, customer support, and compliance processes. Together, the founders focused on creating infrastructure that abstracts regulatory and banking complexity while enabling startups, SMEs, and enterprises to grow quickly. Xendit’s leadership team includes executives with experience in banking, fintech, and risk management, supporting sustainable regional expansion.
Financial Licences, Schemes, and Regulatory Setup
Xendit operates under local payment service provider licenses in each country it serves, working closely with central banks and financial regulators. In Indonesia, Xendit is licensed by Bank Indonesia as a payment gateway and processor. Similar regulatory approvals exist in the Philippines, Thailand, Vietnam, and Malaysia through local entities and partners.
The company supports card acquiring through regional scheme connections and domestic banking partnerships. Xendit does not operate as a bank or EMI and does not issue IBANs. Its compliance framework includes KYB onboarding, UBO verification, AML/CTF monitoring, sanctions screening, transaction monitoring, and fraud prevention tailored to Southeast Asian regulatory standards.
Products
Xendit offers a comprehensive suite of payment solutions optimized for Southeast Asia:
– Online and mobile payment acceptance
– Card acquiring for Visa and Mastercard
– Bank transfers and virtual accounts
– E‑wallet integrations
– Retail outlet and over‑the‑counter payments
– Subscription and recurring billing
– Disbursements and payouts
– Invoice generation and payment links
– Fraud detection and risk tools
– APIs, SDKs, webhooks, and sandbox
– Merchant dashboards and reconciliation
Xendit’s API‑first platform allows businesses to integrate once and access a wide range of local payment methods without managing individual bank relationships.
Positioning, Market Focus, and Financials
Xendit positions itself as the default payments infrastructure for Southeast Asian businesses. Its primary customers include ecommerce platforms, marketplaces, SaaS companies, digital services, and fast‑growing startups. Unlike global PSPs that offer limited local coverage, Xendit’s advantage lies in deep integration with domestic payment rails and consumer preferences.
Revenue is generated through transaction fees, value‑added services, and enterprise contracts. Xendit’s financial growth is closely tied to the expansion of ecommerce and digital services in Southeast Asia, where card penetration remains low and alternative payment methods dominate.
Review and Reputation
Xendit is widely praised for its developer‑friendly APIs, fast onboarding, and strong local payment coverage. Startups and SMEs appreciate its transparent pricing and ability to support rapid scaling without heavy upfront investment. Enterprises value Xendit’s reliability, compliance discipline, and regional expertise.
Criticism generally relates to market‑specific limitations, such as payment method availability varying by country and occasional delays due to regulatory checks. These challenges are common in the region and reflect Xendit’s compliance‑first approach.
Overall rating: ★★★★☆
Interview – Xendit Q&A on Licensing, Products, Compliance, and Roadmap
Is Xendit a bank?
No, Xendit is a regulated payment service provider, not a bank.
Does Xendit issue IBANs?
No, Xendit focuses on local payment methods and does not issue IBANs.
Does Xendit support cards?
Yes, card payments are supported alongside local methods.
What industries use Xendit?
Ecommerce, SaaS, marketplaces, digital services, and startups.
What is Xendit’s roadmap?
Expansion into new Southeast Asian markets, deeper local payment coverage, and enhanced fraud tools.
Competitors
Conclusion
Xendit has become a cornerstone of Southeast Asia’s fintech infrastructure by focusing on local payment realities rather than importing Western payment models. With strong regulatory alignment, developer‑centric design, and regional depth, Xendit is well positioned to continue powering the next wave of digital commerce across Southeast Asia.
About the Author
