Despite Pandemic Slowdown Southeast Asia’s Digital Transformation is Propelling Growth

Xendit, Southeast Asia’s fastest-growing digital payments infrastructure, stated today that it is seeing an increase in digital transactions, demonstrating that the region’s focus on developing a more digital infrastructure is quickly finding traction.

Despite the lasting economic impact of the pandemic, the region’s commitment to updating its economic, mobile, and broadband infrastructure is beginning to pay off, as evidenced by the significant growth seen across Southeast Asia’s network.

The IMF predicts 4.9 percent growth in Indonesia, Malaysia, the Philippines, Thailand, and Vietnam in 2021, down from its prior forecast of 5.2 percent. According to a report released earlier this year by the Asia Development Bank, the region’s growth rates should remain over 5% in 2022.

Xendit helps organizations with everything they need in the digital transformation process, from processing payments to running, disbursing wages and loans, and identifying fraud. Xendit listens to what consumers want and adapts to their demands while being true to the product’s mission.

Xendit is a financial technology firm that offers payment solutions and streamlines the payment process for businesses in Indonesia, the Philippines, and Southeast Asia, ranging from small businesses to huge corporations. Xendit is a money processing platform that allows businesses to accept payments, pay employees, manage marketplaces, and more. It’s simple to use and comes with 24/7 customer care. Xendit helps businesses accept payments from direct debit, virtual accounts, credit and debit cards, eWallets, retail outlets, and online installments across Southeast Asia’s fragmented payment landscape.

Xendit is influencing the next generation of scalable enterprises across Southeast Asia by building the region’s digital payments infrastructure. Xendit is driving the digital revolution of the region by addressing access, dependability, and regulatory requirements, allowing more enterprises to develop and thrive. Xendit powers some of Southeast Asia’s fastest-growing companies, including Traveloka, Transferwise, Wish, and Grab, and is the first Indonesian startup to graduate from YCombinator. It is funded by global investors and other venture capital firms in the region.

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