Xenditind
Xendit helps Southeast Asian businesses accept payments and process payouts across 100+ local payment methods.
Xendit is a fintech platform that enables businesses across Southeast Asia to accept payments through 100+ methods (cards, e-wallets, bank transfers, QR codes) and disburse payouts to 450+ banks and e-wallets. Built specifically for the region's payment diversity—where credit card penetration is only 4%—Xendit serves SMBs, e-commerce platforms, and enterprises like Grab, Lazada, and Samsung Indonesia. The company differentiates through local in-market teams, transparent transaction-based pricing, and graduated tier discounts as volume increases.
Problem solved
Businesses in Southeast Asia cannot efficiently accept payments through the diverse local methods their customers prefer (e-wallets, bank transfers, QR codes) or process bulk payouts to multiple banks and e-wallets simultaneously.
Target customer
SMBs, e-commerce startups, marketplaces, and enterprises expanding across Southeast Asia; particularly businesses needing local payment method diversity rather than card-only solutions.
Founders
M
Moses Lo
Co-Founder & CEO
Former Retail Leadership Development at Amazon.
B
Bo Chen
Co-Founder
Former Software Engineer at Ripple Labs.
T
Tessa Wijaya
Co-Founder & COO
Former Associate at Mizuho Asia Partners.
J
Juan Gonzalez
Co-Founder
Software engineer with extensive expertise in APIs, web applications, and complex systems.
Funding history
Seed
$120K
August 2015
Led by Y Combinator
Series A
$20M
June 2018
Led by Kleiner Perkins
Series B
$64.6M
March 2021
Led by Accel
Series C
$150M
September 2021
Led by Tiger Global Management
Series D
$300M
May 2022
Led by Coatue, Insight Partners
· Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo, Goat Capital
Total raised:
$538M
Pricing
Transaction-based pricing: Xendit charges a small fee per transaction; invoices are free. Graduated tier pricing applies discounted per-transaction fees once volume thresholds are met, with up to three tier levels per product. Example: bank switcher charges IDR 2,000 plus the bank's rate.
Notable customers
Samsung Indonesia, Travelio, Lazada, Wawa Games, Pasarpolis, GrabPay, Ninja Van Philippines, Qoala, UNICEF Indonesia, Cashalo, ShopBack, Grab, Raena
Integrations
Shopify, Cloudbeds, Alibaba Cloud, Traveloka, Wish, Wise, Grab, accounting software, e-commerce plugins, booking systems
Website
Competitors
Stripe
Global payment processor with strong card focus; Xendit is tailored for Southeast Asian payment diversity and local methods.
Omise
Regional competitor but less extensive payment method coverage and smaller customer base.
Duitku
Indonesian payment gateway with narrower product scope; lacks Xendit's payout and marketplace features.
MerchantE
Limited regional presence and fewer integration partnerships compared to Xendit.
ZooZ
More fragmented feature set; Xendit offers unified payments, payouts, fraud detection, and marketplace tools.
Why this matters: Xendit achieved unicorn status as the first Indonesian company through Y Combinator and has raised $538M by solving a critical Southeast Asia problem—credit card penetration is only 4%, making card-only processors insufficient. Its 2025 acquisition of Payex signals aggressive regional expansion and consolidation in a fragmented market.
Best for: Businesses expanding across Southeast Asia that need to accept local payment methods and process bulk payouts without building custom payment infrastructure.
Use cases
E-commerce Platform Payment Acceptance
A Shopify or Lazada-like marketplace needs to accept payments from customers across multiple countries with different preferred payment methods. Xendit enables them to offer 100+ payment options (credit cards, e-wallets, bank transfers, QR codes) through a single integration, increasing conversion rates by serving local preferences.
Marketplace Seller Payouts
A gig economy or marketplace platform (like Ninja Van or Grab) needs to pay thousands of sellers across multiple banks and e-wallet providers weekly. Xendit's bulk payout API allows automated, instant payments to 450+ institutions, eliminating manual bank transfers and reducing settlement time from days to hours.
Subscription & SaaS Billing
A B2B SaaS company serving Southeast Asian customers can't collect recurring payments via card alone due to low credit card penetration. Xendit's virtual account and e-wallet integrations enable them to accept local payment methods for subscriptions, reducing churn from payment failures.
Hotel & Travel Booking
A hospitality platform (like Travelio) needs to accept bookings from both international tourists and local customers. Xendit's Cloudbeds integration and multi-method support allows them to process payments in local currencies and methods, simplifying operations across regions.
Alternatives
Stripe
Better for global businesses with card-heavy customer bases; less optimized for Southeast Asian local payment methods.
PayPal
Broader geographic coverage but less tailored to Southeast Asia's fragmented payment landscape; higher fees.
2Checkout (Verifone)
Global payment processor with less regional expertise; fewer local payment method integrations in Southeast Asia.
Omise
Regional alternative but smaller platform with narrower payment method coverage and fewer marketplace/payout features.
FAQ
What does Xendit do? +
Xendit is a Southeast Asian fintech platform that enables businesses to accept payments through 100+ local methods (cards, e-wallets, bank transfers, QR codes) and process bulk payouts to 450+ banks and e-wallets. It also provides fraud detection, marketplace infrastructure, and payroll/loan disbursement capabilities for SMBs, e-commerce platforms, and enterprises.
How much does Xendit cost? +
Xendit uses transaction-based pricing where you only pay when customers pay you—no fixed fees. Transaction fees vary by payment method; invoices are free. Graduated tier pricing applies discounts as transaction volume increases, with up to three tier levels per product.
What are alternatives to Xendit? +
Stripe (global card-focused processor), Omise (regional competitor), Duitku (Indonesian payment gateway), 2Checkout (broader geographic coverage but less Southeast Asia focus), and PayPal (higher fees, less local method integration).
Who uses Xendit? +
SMBs, e-commerce startups, marketplaces, and enterprises across Southeast Asia. Notable customers include Grab, Lazada, Samsung Indonesia, Ninja Van, Travelio, ShopBack, GrabPay, UNICEF Indonesia, and Cashalo. Target: businesses with customers in Southeast Asia who need local payment method diversity.
How does Xendit compare to Stripe? +
Stripe is a global payment processor optimized for credit card transactions, while Xendit is purpose-built for Southeast Asia where card penetration is only 4%. Xendit offers 100+ local payment methods, regional payout capabilities to 450+ institutions, and in-country teams who understand each market. Stripe excels globally but lacks Xendit's local depth.
When did Xendit achieve unicorn status? +
Xendit became a unicorn in September 2021 during its Series C funding round ($150M led by Tiger Global), reaching a $1 billion valuation. It was also the first Indonesian company accepted to Y Combinator.
What regions does Xendit operate in? +
Xendit operates in Indonesia (headquarters), Philippines (entered 2020), Malaysia (partnership with Payex, 2023), and Thailand (March 2024). The company has 700+ employees primarily based in Jakarta with distributed teams globally.
Tags
payments
Southeast Asia
payment processing
payouts
e-wallets
bank transfers
marketplace payments
local payment methods
fintech
SMB