Digital Payments Infrastructure Pioneer Xendit Sees Payment Value Soar 10 Percent Each Month in 2021 As More of Region’s Businesses Transition to Digital Financial Future
Xendit, the fastest growing digital payments infrastructure for Southeast Asia, announced it is experiencing a surge in digital transactions, providing evidence that the region’s emphasis on building out a more digital infrastructure is rapidly gaining traction.
“We’ve also found that e-Wallets transactions contributed to 16% of the number of transactions that Xendit processed in 2021.”
“In the first few months of 2021 we’ve experienced a 146% increase in total payment value across Indonesia and the Philippines. This is a testament to how we’re addressing the reliability, regulatory and accessibility challenges to enable businesses to thrive in the new digital economy,” said Tessa Wijaya, Xendit COO and Co-Founder. “We’ve also found that e-Wallets transactions contributed to 16% of the number of transactions that Xendit processed in 2021.”
Read More: TigerWit Liverpool FC Videos Highlight Pandemic Keyworkers and Club Legends
“The region’s commitment to modernizing its economic, mobile and broadband infrastructure is starting to pay dividends as we can see in the strong growth we are recording across our network despite the lingering economic impact of this pandemic,” said Moses Lo, Xendit CEO and Co-Founder. “By building this digital payments infrastructure we’re helping businesses in our own backyard find their way back to prosperity as COVID business impact begins to decline.”
The IMF expects Indonesia, Malaysia, the Philippines, Thailand and Vietnam to see economic growth of 4.9% in 2021, down from its previous projection of 5.2%. The Asia Development Bank reported earlier this year that the region should still see growth rates above 5% in 2022.
Read More: Atico Mining Announces Appointment of New CFO
From processing payments, running, disbursing payroll and loans, and detecting fraud, Xendit supports businesses with everything they need in the process of digital transformation. Xendit taps into what customers want, adapting to their needs while maintaining the product’s purpose.
Read More: MAXEX Adds Lesley Goldwasser to Board of Directors
