Xendit Targets MSME Users, Releases Business Applications and "Online Store"

Xendit's seriousness for working on the MSME sector, including individual traders and social sellers, can be seen from the various innovations launched. The company released three solutions, with two of them specifically for the MSME sector, namely 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 mostly use mobile phones smartphone to operate their business, rather than using a laptop. “With this application, now everyone can manage digital payment transactions more easily and more securely. To support mobility, Xendit customers can issue invoice and accept various payment methods,” he said.

Not only managing and receiving payments online from buyers, Xendit Bisnis app is also powered with various features. One of them is Order Management, which allows businesses to process all transactions automatically, from entering orders from buyers, arranging shipments, to recapitulating all purchases.

In this way, business operations online can run smoothly and efficiently in terms of time saving. Xendit Product Manager Andri Setiawan said that this application can also store customer contacts so that businesses can more easily send messages invoice bill.

"In invoice The bill contains details of the bill along with a payment link that will direct consumers to various payment methods selected by the seller and can be chosen by the consumer. The funds will be received by the seller as soon as the payment has been completed," said Andri.

He continued, in the future 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 for download on the Play Store and App Store.

The second business solution announced by Xendit is the Xendit Online Store to make it easier for businesses to set up shops onlinehis own. 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/Store” and select “Online Store/Online Store.”

Solutions for corporations

The third business solution is XenSol (Xendit Solution), a collaboration with Andrew Tani & Co. (ATC). This solution is more geared towards large-scale business people who are trying to carry out 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 inventory stock of products sold in 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 also participates invest for majoo, a SaaS startup developer of 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 accept payments, cash out, disburse payroll, operate marketplace, and others.

Digitizing MSMEs

According to 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.

Not only Xendit, there are many companies that provide various solutions to make it easier for MSMEs to enter go digital from various aspects of business, be it fintech, supply chain, logistics, e-commerce, marketing, and others. According to the data in the report MSME Empowerment Report 2021 published DSInnovate, there are several basic problems currently experienced by SMEs in Indonesia, including:

To overcome these problems, 83% of MSME actors claim to use services from digital startups. From this hypothesis, the founder also 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.