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Indonesia's Xendit enters Malaysian market

Indonesian fintech firm Xendit has officially made its debut in the Malaysian market to offer a diverse range of hyperlocal payment solutions to businesses in the country. Its focus includes small and medium-sized enterprises (SMEs), startups, and giant corporations. As its first strategic move in Malaysia, Xendit has announced that it is investing in local fintech player, Payex, which is a Bank Negara Malaysia licensed payment gateway provider. In a statement, Xendit said that the collaboration will allow the company to synergise its global expertise with Payex’s knowledge in driving merchant acquisition and local expansion. Xendit believes that this collaboration will further bolster their ability to empower local businesses to expand regionally while capitalizing on their one integrated payment infrastructure that allows businesses to seamlessly tap into the Indonesian, Philippine, Thai, Vietnamese, Malaysian, and other Southeast Asian markets.

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