Xendit, an all-purpose payment gateway and management platform for SMEs and startups in Southeast Asia, becomes a unicorn after expansion into the Philippines.
Why
SME banking problems
SMEs are often not equipped to handle large volumes of transactions involving multiple banks.
Online shopping needs
Merchants have to add e-commerce services like e-payments as more customers shop online 24/7.
Market
$1.2tn
Projected total gross transaction value of digital payments in Southeast Asia by 2025, growing at CAGR 15% from $620bn in 2020: Google e-Conomy SEA Report 2020.
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