Xendit
Xendit enables Southeast Asian businesses to accept 100+ local payment methods via unified API.
Xendit is a digital payment infrastructure platform enabling businesses across Southeast Asia to accept payments through 100+ payment methods including credit cards, e-wallets, bank transfers, and QR codes. The company solves the critical problem of low credit card penetration in emerging markets by offering virtual accounts and local payment integrations in a single API. Xendit processes payments, manages marketplaces, disburses payroll, and detects fraud for over 10,000 businesses. The platform generates revenue through transaction fees and has achieved unicorn status with $538M in total funding.
Problem solved
Businesses in Southeast Asia struggle to accept payments due to low credit card penetration (3%) and fragmented local payment methods requiring separate integrations.
Target customer
E-commerce platforms, fintech companies, ride-sharing services, and digital marketplaces operating in Southeast Asia (Indonesia, Philippines, Malaysia, Thailand, Vietnam) seeking local payment infrastructure.
Founders
M
Moses Lo
CEO & Co-Founder
BCom from UNSW, MBA from UC Berkeley Haas; previously worked at Amazon and Boston Consulting Group; recognized on Forbes 30 Under 30 (2016) and Prestige 40 Under 40 (2023).
T
Tessa Wijaya
Co-Founder & COO
Led Xendit to 40% female workforce; featured in Forbes Asia Power Businesswomen and J.P. Morgan's Top 100 Asia-Pacific Women-Powered Businesses 2021.
B
Bo Chen
Co-Founder
Brings extensive experience transforming payment solutions for 10,000+ businesses across Southeast Asia with focus on advancing payment technology for startups.
J
Juan Gonzalez
Co-Founder
Software innovator with extensive engineering experience co-founding Xendit to deliver advanced payment technology.
Funding history
Seed
$120,000
August 2015
Led by Y Combinator
Series B
$64.6M
March 2021
Led by Unknown
Series C
$150M
September 2021
Led by Tiger Global Management
· Accel, Kleiner Perkins, EV Growth, Amasia, Intudo Ventures, Goat Capital
Series D
$300M
May 2022
Led by Coatue and Insight Partners
· Accel, Tiger Global, Kleiner Perkins
Total raised:
$538M
Industries
Pricing
No setup, monthly, or maintenance fees. Transaction-based pricing: Domestic cards 3.0% + $0.80, International cards 4.0% + $0.80, E-wallets 2.70% + $0.40, Bank transfers 2.13% + $0.60, Virtual accounts 0.5% + $0.20, QR Indonesia 0.7% + $0.20, PayLater 6.0% + $0.20. Subscription plans at $0.30/month per active plan.
Notable customers
Grab, Wise, Traveloka, Samsung Indonesia, ShopBack, Lazada, Wawa Games, Indonesian National Post Office, Tiket (Indonesian National Airline)
Integrations
Shopify, WooCommerce, and direct integrations with 100+ local payment methods across Southeast Asia
Website
Competitors
Stripe
Global payment processor with broader geographic reach; Xendit specializes in Southeast Asian local payment methods and virtual account solutions.
PayU
Broader payments platform; Xendit's competitive advantage is deep local integration with 100+ Southeast Asian payment methods in single platform.
Flutterwave
Focuses on Africa; Xendit dominates Southeast Asia with region-specific expertise and local payment partnerships.
Why this matters: Xendit achieved unicorn status by solving a critical infrastructure gap in Southeast Asia's high-growth digital economy (projected $360B+ by 2025). As the first Indonesian startup to graduate Y Combinator and now a $1B+ company, it demonstrates how focused regional expertise can compete with global payment giants in emerging markets.
Best for: E-commerce, fintech, and marketplace businesses operating in Southeast Asia needing unified access to local payment methods without managing fragmented integrations.
Use cases
Marketplace Payment Reconciliation
Marketplace platforms like Lazada use Xendit's virtual account feature to automatically reconcile customer payments without manual intervention. Each buyer receives a unique virtual account identifier, eliminating reconciliation delays common with bank transfers.
Regional E-commerce Expansion
When e-commerce companies expand from Indonesia to Philippines, Malaysia, Thailand, and Vietnam, Xendit provides single API access to local payment methods in each market, reducing engineering overhead and time-to-market.
Fintech Payment Rails
Fintech platforms like Wise use Xendit to enable domestic transfers, payouts, and disbursements across Southeast Asia, leveraging virtual accounts for instant settlement and fraud detection.
Alternatives
Stripe
Choose Stripe for global coverage and advanced features; choose Xendit for Southeast Asia-specific expertise and lower fees on local payment methods.
2Checkout (Verifone)
2Checkout offers broader global coverage; Xendit specializes in emerging Southeast Asian markets with deep local payment integrations.
Adyen
Adyen serves multinational enterprises globally; Xendit targets startups and mid-market companies specifically in Southeast Asia with lower-cost local payment options.
FAQ
What does Xendit do? +
Xendit provides payment infrastructure enabling businesses to accept 100+ payment methods across Southeast Asia including credit cards, e-wallets, bank transfers, and QR codes. The platform also provides marketplace payments, payroll disbursement, fraud detection, and API integrations with minimal setup required.
How much does Xendit cost? +
Xendit operates on a transaction-based pricing model with no setup or monthly fees. Costs vary by payment method: domestic cards 3.0% + $0.80, e-wallets 2.70% + $0.40, virtual accounts 0.5% + $0.20, and QR codes 0.7%–1.4% depending on region.
What are alternatives to Xendit? +
Top alternatives include Stripe (global payments platform with broader reach), PayU (multiregion processor), Flutterwave (Africa-focused), and Adyen (enterprise-grade global platform). Xendit's competitive advantage is specialized expertise in Southeast Asian payment methods and lower local transaction fees.
Who uses Xendit? +
Customers include major platforms like Grab, Traveloka, Lazada, and Wise, as well as e-commerce sites, fintech companies, and marketplaces across Indonesia, Philippines, Malaysia, Thailand, and Vietnam. The platform serves 10,000+ businesses ranging from startups to enterprises.
How does Xendit compare to Stripe? +
Stripe is a global payments giant with broader geographic coverage and more advanced features. Xendit specializes in Southeast Asia with deeper integrations into local payment methods (100+ options), lower fees on regional payments, and virtual account solutions optimized for emerging markets with low credit card penetration.
Tags
payments
payment infrastructure
Southeast Asia
virtual accounts
e-wallets
marketplace payments
API
fintech
emerging markets
payment processing