Get to know Xendit

Xendit is a fintech company that provides payment solutions and simplifies payment processes for MSMEs, startups, e-commerce, and large corporations in Indonesia, the Philippines, and Southeast Asia. Xendit enables businesses to accept payments, run marketplaces, and many more through an easy integration platform backed by 24-hour customer service.

In the midst of Southeast Asia's fragmented payments landscape, Xendit enables businesses to accept payments from multiple channels, such as direct debit, virtual accounts, credit and debit cards, e-wallet, QRIS, retail outlets, and online installments. With that, Xendit has helped build digital payment infrastructure in Southeast Asia, including Indonesia.

In collaboration with BRIAPI, Xendit succeeded in providing various digital payment methods for its merchants throughout Indonesia. Xendit uses BRI's extensive customer network to provide consumers with the best choice of payment methods.
 

Challenges

As a payment infrastructure provider for various types of businesses, Xendit recognizes one major challenge in this digital era: the transition of conventional payment infrastructure to digital. From small shop owners on Instagram to large, bona fide companies, they are now entering the online world.

So, to answer these challenges, Xendit comes up with three product categories. They are Payments, Business Operations, and Store Management which is built specifically for MSMEs. With them, Xendit enables businesses of all sizes to provide easy, fast and secure modern financial services.

Even amidst the Covid-19 pandemic, Xendit was still able to score a satisfactory performance. Throughout 2021, Xendit recorded a marvelous increase in total payment volume of more than 250% year on year in Indonesia and the Philippines with total transactions reaching US$12 billion or equivalent to IDR 172.2 trillion.

The value comes from 150 million transactions that take place in Xendit's digital ecosystem, both in Indonesia and the Philippines. This proves that Xendit is able to adapt and meet the needs of business actors in Southeast Asia. In the same year, Xendit succeeded in obtaining Series-C revenues of US$150 million or equivalent to IDR 2.1 trillion.

The funding makes Xendit the newest unicorn startup in Indonesia, following Tokopedia, JD.id, OVO, Bukalapak, Traveloka, and Gojek. With this funding, Xendit plans to continue innovating their product range as an effort to expand to selected countries in Southeast Asia.
 

Solution

Indonesian woman using Xendit integrated BRI Direct Debit

From the existing problem to the opportunities available, Xendit strives to deliver an impressive digital payment experience. One form of this effort is to collaborate with BRIAPI, BRI's open banking service.

Xendit integrates two BRIAPI products, BRI Direct Debit and Transfer to Other Banks. These two APIs allow Xendit merchants to provide access to digital payments, especially for their customers who use BRI as their main account.

"We use BRIAPI products to accommodate the needs of Xendit merchants. So, they can get services from existing payment channels," said Rio, one of Xendit Partnership team.

Rio continued that before integrating BRIAPI, consumers could only conduct manual transfer. They have to go to the nearest ATM or BRI branch office to complete the payment.

"Now, consumers can pay online through BRI's digital payment options. The payment process becomes easier, faster, and also guaranteed security," he said.
 

Integration Process

Overall, the integration and maintenance process for BRIAPI products on Xendit's business dashboard is smooth and easy. That's because the information needed by Xendit to monitor API developments is already available on BRIAPI website.

“Every details and information on BRIAPI website are already clear and complete. BRIAPI team also periodically update their products. So, we can visit the website to find out updates on the products that we use,” said Ismail Rabbani, a member of Xendit Product team.

Ismail also added that the maintenance process went seamlessly in both ends—from Xendit team in utilizing information on BRIAPI portal developer, as well as with assistance from BRIAPI team. BRIAPI Helpdesk team is always open to communicate with Xendit team and help resolve any issues that arise.

Open communication between the two parties actually helps from a commercial perspective. This is what Rio also underlined.

“I have been in charge since the beginning of the integration between BRIAPI and Xendit. In my opinion, the API information is very clear so that we can apply it according to the direction from BRI. Also, the communication between our team and BRIAPI team went really well."

“This applies particularly when we have to follow up on issues found in the integration process, such as bugs or errors during API testing. Sometimes, there are some problems that take longer to solve, but BRIAPI team always come up with solutions to help us solve problems," said Rio. 

If there is an in-depth investigation by BRIAPI team about the problem at hand, Xendit team will provide a sample of findings. With an agile and quick response, BRIAPI team will select the sample to find the most appropriate and effective solution so that the API maintenance process can continue.
 

What's Next from Xendit and BRIAPI

BRIAPI feature exploration by Xendit

After implementing BRIAPI products, Xendit will continue to explore other API products from BRI to improve services. 

In addition, Xendit is also developing automation capabilities through APIs. That way, every manual process can be minimized. Their tasks can be done more quickly and easily.

“Tasks such as reconciliation, inquiry, and others that require more effort manually can be handled automatically if we maximize BRIAPI products. We're on our way there," said Rio.

He also highlighted that with the growing needs of consumers, Xendit will continue to strive to complete elements of its digital payment infrastructure.

"It's a well-maintained symbiosis. This means that Xendit can facilitate merchants, then merchants can facilitate consumers to make digital payments easily and conveniently. All thanks to our collaboration with BRIAPI.”

"As a result, Xendit has gradually been able to achieve its vision, which is 'to make payments in Indonesia simple, safe and easy for everyone' ", concluded Rio.
 

***

About Xendit

Xendit is a financial technology company that provides payment solutions and simplifies payment processes for MSMEs, startups,  e-commerce, and large corporations in Indonesia, the Philippines, and Southeast Asia. Xendit enables businesses to accept payments, run marketplaces, and more through an easy integration platform backed by 24-hour customer service. Amidst Southeast Asia's fragmented payments landscape, Xendit enables businesses to accept payments from multiple channels, such as direct debit, virtual accounts, credit and debit cards, e-wallet, QRIS, retail outlets, and online installments. 

By building a digital payments infrastructure in Southeast Asia, Xendit is driving digital transformation in the region by addressing the access, reliability and regulatory needs to enable more businesses to go forward and develop. As the first Indonesian startup to qualify from YCombinator and supported by global investors and venture capital firms in the Southeast Asia region, Xendit supports the fastest growing brands in Southeast Asia including Traveloka, Wish, and Grab. For more information, visit http://xendit.co

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