Xendit Introduces BPR Zen, Venturing into the Banking Industry

The business expansion of fintech unicorn, Xendit, has gone beyond the payment gateway by venturing into banking and establishing PT Bank Perkreditan Rakyat Xen. From DailySocial.id’s observation, BPR Xen has actively recruiting on various job portals.

The information is quite limited, including Xendit‘s channel for entry, whether through BPR acquisition or from scratch. BPR Xen is located in Depok, West Java. Our team tried to reach out, however, Xendit still preparing for answers by the time this news published.

BPR Xen by Xendit enlivens the digital crowd leveraging BPR and BPRS vehicles in the banking industry. There are UpBanx (Fazz Financial Group), Bank Hijra (ALAMI Group), and Komunal with the DepositoBPR product.

Compared to other commercial banks, BPR’s activities are practically limited as they can only channel credit (no credit cards allowed and the it is limited to billions of Rupiah), savings, and time deposits. Also, the user base is more defined, at the provincial level.

Thus, this segment requires digitization to compete in the industry, along with ecosystem support. Xendit as a payment gateway has the ability to handle the transaction flow of money from various sources and also reconciliation.

Credit bank digitization

Komunal, through its DepositoBPR, grasps a perspective from the limited BPR users as it has not been digitized, therefore, its products have limited exposure and difficult access for urban depositors. DepositoBPR bridges BPR partners who are looking for customers to make deposit with depositors who want to multiple their funds or invest through BPR Deposits.

Komunal’s Co-Founder, Hendry Lieviant said that it is an irony, during this pandemic, when commercial banks have high liquidity with low interest offers. Meanwhile, BPRs have difficulty accepting deposits simply because 95% of Indonesia’s depositors live in urban areas.

In the development of DepositoBPR, one of the main challenges is standardizing and optimizing BPR processes which are currently still fragmented,. It requires improvements in terms of depositor experience. For example, changing live signature to digital, e-KYC through video calls, and most importantly changing physical bills into e-bill.

The thing is, in providing this solution, Komunal cooperates with the digital ecosystem. Xendit is one of its partners to facilitate the transaction flow.

In terms of industry, OJK has encouraged BPRs to collaborate with various institutions, for example facilitation collaboration between BPRs and fintech startups.

OJK has granted the request for BPR and fintech lending for collaboration through two schemes, channeling and referral. It is said in the Guidebook for BPR and Fintech Lending Cooperation which was published in March 2021.

Furthermore, by initiating the development of BPR e-Cash in collaboration with Finnet Indonesia. BPR e-Cash is a kind of mobile-based electronic money that can later be used for various transactions such as QR payments, top up, money transfers, and others.

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Original article is in Indonesian, translated by Kristin Siagian

Xendit Targets SME Players, to Release Online Store and Business App

Xendit’s focus on empowering the MSME sector, including individual traders and social sellers, can be seen through its various innovations. The company released three solutions, two of them aimed for the MSME sector, the Xendit Business Application and the Xendit Online Store.

Xendit’s Founder & CEO, Moses Lo said, this application is here to serve Indonesian business customers who operate their businesses mostly through smartphone rather than laptops. “Through this application, everyone can now easily and securely manage digital payment transactions. In order to support mobility, Xendit customers can issue invoices and accept various payment methods,” he said.

Aside from managing and accepting online payments from buyers, Xendit Bisnis app is also powered by various features. One of them is Order Management, which allows businesses to process all transactions automatically, from ordering, arranging shipments, to recapitulating all purchases.

That way, online business operations can run smoothly and efficiently in terms of time savings. Xendit’s Product Manager, Andri Setiawan said that this application can also store customer contacts, therefore, businesses can easily send invoices.

“The invoice contains billing details along with payment links that will direct consumers to various payment methods chosen by the seller and can be chosen by consumers. The funds will be received by the seller as soon as the payment has been completed,” Andri said.

He continued, the Xendit Bisnis application will continue to add features to make it easier for merchants to transform digitally. Among other things, integrating the Xendit Online Store with applications, managing inventory, checking shipping costs, and ordering logistics services. Xendit Bisnis is now available on the Play Store and App Store.

The second business solution is the Xendit Online Store to make it easier for businesses to set up their own online stores. This feature allows businesses to have a shop with a unique URL in less than five minutes and is equipped with Xendit’s choice of payment method features.

This feature is available for free and can be directly used by individual businesses and MSMEs registered with Xendit, to increase the reach of buyers and strengthen their sales channels, without relying on other e-commerce platforms. To access this, users can navigate to the Dashboard, select “Store” and select “Online Store”

Corporate solution

The third business solution is XenSol (Xendit Solution), a collaboration with Andrew Tani & Co. (ATC). This solution is geared towards large-scale business people who are trying to conduct a comprehensive digital transformation. Companies can use consulting services from ATC and Xendit will support this digital transformation by providing a better digital payment infrastructure. Later, Xendit plans to invite relevant partners and agencies as partners to run the XenSol program in a sustainable manner.

The addition of this new solution is expected to make it easier for all business people with digital access to create an equal competitive environment, so that all businesses can grow well. This target is in line with that carried out by the government to bring more than 30 million MSMEs to go digital by 2025.

Previously, in August 2021, the company launched the Xendit Inventory Sync Tool, a multi-channel technology innovation for managing stock inventory of products sold on online marketplaces, as well as Shopify and Woocommerce sites. This feature makes it easy for business people to monitor and manage the amount of stock in each channel in one neat and integrated dashboard.

In addition to creating its own features, Xendit has also invested in majoo, a SaaS startup that develops omnichannel solutions. It is certain that the two companies will take advantage of each other’s ecosystem to develop solutions for MSMEs, although the plan has not been officially announced.

Overall, Xendit has processed more than 110 million transactions per year with a total volume of more than IDR 142 trillion. Xendit wants to simplify the payment process for all sizes of businesses in Indonesia, the Philippines and Southeast Asia. Xendit enables businesses to receive payments, cash out, disburse payroll, run marketplaces, and more.

SME Digitization

Based on data from the Ministry of Cooperatives and Small and Medium Enterprises, out of 64.2 million MSME units, only 19% of them have entered the digital ecosystem. The government itself targets 30 million MSME units to enter the digital ecosystem by 2024.

Aside from Xendit, there are many companies that provide a variety of solutions to facilitate SMEs to go digital from various business aspects, fintech, supply chain, logistics, e-commerce, marketing, and others. According to data in the 2021 MSME Empowerment Report published by DSInnovate, there are several basic problems currently experienced by MSME actors in Indonesia, including:

In order to overcome these problems, 83% of MSME players claim to use services from digital startups. From this hypothesis, the founders are passionate about presenting a variety of products with different value propositions. Currently there are dozens of startups that present various types of SaaS in this segment.

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Original article is in Indonesian, translated by Kristin Siagian

Xendit Incar Pengguna UMKM, Rilis Aplikasi Bisnis dan “Online Store”

Keseriusan Xendit untuk menggarap sektor UMKM, termasuk pedagang individu dan social seller, terlihat dari berbagai inovasi yang diluncurkan. Perusahaan merilis tiga solusi, dengan dua di antaranya dikhususkan untuk sektor UMKM, yakni Aplikasi Xendit Bisnis dan Xendit Online Store.

Founder & CEO Xendit Moses Lo menuturkan, aplikasi ini hadir untuk melayani pelanggan bisnis Indonesia yang mayoritas menggunakan smartphone untuk mengoperasikan bisnisnya, ketimbang memakai laptop. “Dengan adanya aplikasi ini, sekarang semua orang bisa mengatur transaksi pembayaran digital secara lebih mudah dan lebih aman. Untuk mendukung mobilitas, pelanggan Xendit bisa mengeluarkan invoice dan menerima berbagai metode pembayaran,” ucapnya.

Tak hanya mengatur dan menerima pembayaran online dari pembeli, aplikasi Xendit Bisnis juga ditenagai dengan berbagai fitur. Salah satunya adalah Order Management yang memungkinkan pebisnis bisa memroses keseluruhan transaksi secara otomatis, mulai dari memasukkan pesanan dari pembeli, mengatur pengiriman, hingga merekap semua pembelian.

Dengan begitu, operasional bisnis online bisa berjalan dengan lancar dan efisien dalam hal penghematan waktu. Product Manager Xendit Andri Setiawan menuturkan aplikasi ini juga dapat menyimpan kontak pelanggan agar pebisnis dapat lebih mudah mengirim invoice tagihan.

“Dalam invoice tersebut berisi detail tagihan beserta link pembayaran yang akan mengarahkan konsumen ke berbagai metode pembayaran yang dipilih oleh penjual dan dapat dipilih konsumen. Dana akan langsung diterima penjual begitu pembayaran telah diselesaikan,” kata Andri.

Dia melanjutkan, ke depannya aplikasi Xendit Bisnis akan terus menambah fitur untuk mempermudah pedagang dapat bertransformasi digital. Di antaranya, mengintegrasikan Xendit Online Store dengan aplikasi, mengelola inventori cek ongkos kirim, dan pemesanan layanan logistik. Xendit Bisnis sudah bisa diunduh di Play Store dan App Store.

Solusi bisnis kedua yang diumumkan Xendit adalah Xendit Online Store untuk permudah pebisnis untuk mendirikan toko online-nya sendiri. Fitur ini memungkinkan pebisnis untuk memiliki toko dengan URL unik dalam waktu kurang dari lima menit dan sudah dilengkapi dengan fitur pilihan metode pembayaran yang dimiliki Xendit.

Fitur ini tersedia secara gratis dan dapat langsung dimanfaatkan oleh pebisnis individu dan UMKM yang telah terdaftar di Xendit, untuk memperbesar jangkauan pembeli dan memperkuat kanal penjualannya, tanpa bergantung pada platform e-commerce lain. Untuk mengakses ini, pengguna dapat menavigasi ke Dashboard, pilih “Store/Toko” dan pilih “Online Store/Toko Online.”

Solusi untuk korporasi

Solusi bisnis ketiga adalah XenSol (Xendit Solution), hasil kerja sama dengan Andrew Tani & Co. (ATC). Solusi ini lebih diarahkan untuk pelaku bisnis skala besar yang berupaya melakukan transformasi digital secara menyeluruh. Perusahaan bisa menggunakan layanan konsultasi dari ATC dan Xendit akan mendukung transformasi digital tersebut dengan menyediakan infrastruktur pembayaran digital yang lebih baik. Nantinya, Xendit berencana mengajak partner serta agensi yang relevan sebagai mitra untuk menjalankan program XenSol secara berkelanjutan.

Penambahan solusi baru tersebut diharapkan dapat mempermudah semua pelaku bisnis dengan akses digital demi menciptakan lingkungan persaingan yang setara, sehingga semua bisnis dapat tumbuh dengan baik. Target ini sejalan dengan yang diusung pemerintah untuk membawa lebih dari 30 juta UMKM untuk go digital pada 2025 mendatang.

Sebelumnya, pada Agustus 2021, perusahaan telah meluncurkan fitur Xendit Inventory Sync Tool, sebuah inovasi teknologi multi-channel untuk mengelola stok inventaris produk yang dijual online marketplace, maupun situs Shopify dan Woocommerce. Fitur ini memudahkan pelaku bisnis untuk memantau dan mengatur jumlah stok di masing-masing kanal dalam satu dasbor yang rapi dan terintegrasi.

Selain membuat fitur sendiri, Xendit juga turut berinvestasi untuk majoo, startup SaaS pengembang solusi omnichannel. Bisa dipastikan kedua perusahaan akan saling memanfaatkan ekosistem satu sama lain untuk mengembangkan solusi untuk UMKM, meski rencana tersebut belum diumumkan secara resmi.

Secara keseluruhan, Xendit telah memroses lebih dari 110 juta transaksi per tahun dengan total volume lebih dari Rp142 triliun. Xendit ingin menyederhanakan proses pembayaran untuk semua skala bisnis di Indonesia, Filipina, dan Asia Tenggara. Xendit memungkinkan bisnis untuk menerima pembayaran, mencairkan, pencairan payroll, menjalankan marketplace, dan lainnya.

Digitalisasi UMKM

Menurut data Kementerian Koperasi dan Usaha Kecil Menengah, dari 64,2 juta unit UMKM, baru 19% di antaranya yang sudah masuk ke ekosistem digital. Pemerintah sendiri menargetkan 30 juta unit UMKM bisa memasuki ekosistem digital pada 2024.

Tak hanya Xendit, ada banyak perusahaan yang menyediakan ragam solusi untuk permudah jalan masuk UMKM go digital dari berbagai aspek bisnis, baik itu fintech, supply chain, logistik, e-commerce, pemasaran, dan lain-lain. Menurut data di laporan MSME Empowerment Report 2021 yang diterbitkan DSInnovate, terdapat beberapa permasalahan mendasar yang saat ini dialami oleh pelaku UMKM di Indonesia, di antaranya:

Untuk mengatasi permasalahan tersebut, 83% dari pelaku UMKM mengaku menggunakan layanan dari startup digital. Dari hipotesis tersebut, para founder pun bergairah untuk menghadirkan ragam produk dengan proposisi nilai yang berbeda-beda. Saat ini ada puluhan startup yang menghadirkan berbagai jenis SaaS di segmen tersebut.