Indonesia's Xendit expands to Malaysia with investment in Payex

“So that Xendit can take Indonesia to the global stage, we consider it necessary to have a presence in multiple South-East Asian countries,” Xendit cofounder and chief operating officer Tessa Wijaya said on Thursday .In the past, Siew served as CEO of WeChat Pay Malaysia — a mobile payment and digital wallet service belonging to Chinese tech giant WeChat.

The expansion was realised with an undisclosed amount invested in Malaysian company Payex, which, like Xendit, is a payment gateway provider. Using a payment gateway saves merchants the hassle of registering with each payment system provider individually and gives them access to multiple payment methods through one service.

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Xendit Officially Enters Malaysian MarketMalaysia is its third market after Indonesia and Philipines It is investing in Payex, a BNM-licensed payment gateway provider Xendit, an Indonesian founded fintech company, has officially entered the Malaysian market with its range of payment solutions for SMEs, start-ups and giant corporations. The move was made following its announcement in 2021 to invest in Penjana Kapital through the Dana Penjana Nasional programme.
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