Why cross-border payments are Asia’s next big tech frontier — Insights from an Indonesian unicorn

Xendit, dubbed the "Stripe of Southeast Asia," provides payment solutions for businesses in a fragmented market where many lack bank accounts or credit cards. COO Tessa Wijaya explains that Xendit aggregates payment methods, such as over-the-counter payments at 7-Eleven and QR code-based payments, to bridge this gap. A key challenge for Xendit is being hyper-localized, integrating with numerous banks and payment options in each country. Looking ahead, Xendit sees cross-border payments and the use of stablecoins as major trends, though regulations pose challenges for cryptocurrency adoption. Wijaya also reflects on an early Bitcoin venture and emphasizes the importance of understanding local market needs.