“While we see increasing demand for digital transactions, we understand that many businesses in the Philippines have not yet fully embraced the digitalization journey. Xendit is unique because we build deeply into each local market and culture, allowing us to work hand-in-hand with both traditional and startup businesses to innovate together along their digital transformation journey. This is especially important now, as so much of the Philippines continues to rely on transacting online for essential payments and purchases,” says Yang Yang Zhang, managing director, Xendit Philippines.
From Indonesia to the Philippines
Xendit began its operations in Indonesia in 2015; today, it is recognized as a leading name for digital payments across both businesses and customers in Indonesia. Not only does Xendit serve local small and medium enterprises (SMEs) but also some of Indonesia’s largest tech startups and the world’s largest businesses.
Xendit offers a technically advanced yet user-friendly process that allows businesses of all sizes to easily end 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 quickly accept major payment methods with fast activation times.
“There is a growing trend toward digital payments and those who have embraced it cite that they enjoy the convenience, quick transaction time, and low processing fees. By working with Xendit to increase the accessibility of digital payments for our users, we can contribute to far-reaching financial inclusion, innovation, and competitive costs,” says 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).
Another key feature of Xendit’s product suite is its robust security structure, powered by an in-house system that assesses credit card transactions for fraud risks. Built with advanced data analytics and optimized with machine learning, this fraud detection system pre-emptively blocks payments that are deemed high-risk.
“These uncertain times have encouraged businesses across all sectors to look into adopting digital payment solutions like contactless transactions. Many are realizing that cashless payments are not just safer health-wise, but more convenient for both business owners and customers, especially
Another key feature of Xendit’s product suite is its robust security structure, powered by an in-house system that assesses credit card transactions for fraud risks. Built with advanced data analytics and optimized with machine learning, this fraud detection system pre-emptively blocks payments that are deemed high-risk.
“Xendit’s suite of services is designed to make payments simple, secure, and easy for customers while enabling businesses to grow exponentially. As a platform that’s deeply rooted in Southeast Asia, we keep our ear to the ground to better recognize the specific needs and wants of each business in the market,” explains Moses Lo, Xendit Group CEO and founder.
Xendit Philippines prides itself in taking the time to build and invest in local partners and channels to create such solutions to specifically address pain points most common to Philippines-specific merchants and customers. Xendit strives to make payments in the Philippines more affordable and accessible, even for those without steady access to the internet. By operating at scale, as it has done so well in Indonesia and other Southeast Asian markets, Xendit is able to provide the most competitive rates and innovative solutions to its customer base.
The Philippines has made tremendous progress in terms of digitizing payments. As demand for seamless online services continues to grow in the Philippines, Xendit is ready to empower all Filipino businesses with the simplest experience for daily digital transaction needs. When it comes to online payments, just Xendit.
