Xendit Review

Xendit is a Jakarta-based payments company founded in 2015 by Moses Lo, Tessa Wijaya, Bo Chen and Juan Gonzalez, which went through Y Combinator's Summer 2015 batch as a peer-to-peer payments app and pivoted to payment gateway products in 2016. It now operates in Indonesia, the Philippines, Malaysia, Thailand, Vietnam, Singapore and Hong Kong, and publishes a Mexican rate card as well. A merchant signs Xendit's own services agreement and is paid out of a Xendit balance, under licences held by group companies in each market — a Bank Indonesia payment gateway licence, a Bangko Sentral ng Pilipinas operator-of-payment-system registration, a Bank Negara Malaysia merchant-acquiring licence through Payex, a Bank of Thailand payment service provider licence, and others. Xendit publishes one regional rate card with every method's price, which is its real strength: as of September 2026, domestic cards are 2.9% + IDR 2,000 in Indonesia, 3.5% in the Philippines, 1.9% to 2.0% in Malaysia and 3.2% + THB 10 in Thailand, QRIS is 0.7%, and Indonesian virtual accounts are a flat IDR 9,000. The catch is a pricing overhaul. From 1 October 2026 Xendit adds a fixed processing fee to every transaction attempt — IDR 4,000, PHP 11, MYR 0.90 or THB 7, including failed attempts and refunds — plus a US$25 card chargeback fee, a US$50 monthly minimum for low-volume and dormant accounts and a US$250 monthly charge for merchants still on its legacy API. On small tickets the fixed fee can exceed the percentage. Card settlement is five business days in Indonesia, the Philippines, Malaysia, Thailand and Vietnam. Xendit says it serves more than 15,200 businesses; its most recent widely reported round was a US$300 million Series D in May 2022, at an undisclosed valuation.

Estimated annual cost at three realistic processing volumes, using Xendit’s published online rate plus monthly fees. Real costs vary with average transaction size, chargeback rate, and any negotiated terms.

What Xendit is

Xendit was founded in Jakarta in 2015 by Moses Lo, now chief executive, Tessa Wijaya, Bo Chen and Juan Gonzalez, and went through Y Combinator's Summer 2015 batch — the company calls itself the first Indonesian startup to graduate from the programme. It began as a peer-to-peer payments app and pivoted to payment gateway products in 2016, obtaining its Bank Indonesia payment gateway licence in 2019. It raised a US$64.6 million Series B led by Accel in March 2021, a US$150 million Series C led by Tiger Global that September, when it says it became a unicorn, and a US$300 million Series D led by Coatue and Insight Partners in May 2022. No valuation was disclosed for the Series D. Xendit's homepage claims more than 15,200 businesses and more than US$47 billion processed a year as of September 2026.

Structurally Xendit is an aggregator. A merchant signs Xendit's own services agreement, payments settle into a Xendit balance, and group companies hold the licences: PT Sinar Digital Terdepan's Category 1 payment gateway licence from Bank Indonesia, Xendit Philippines' registration as an operator of payment system with Bangko Sentral ng Pilipinas, Payex's merchant-acquiring licence from Bank Negara Malaysia, Xendit Tech's payment service provider licence and Xendit Wallet's e-money licence from the Bank of Thailand, AppotaPay's payment intermediary licence in Vietnam, and a Major Payment Institution licence for cross-border money transfer in Singapore. That is what lets it onboard a business onto local rails in several countries under one contract, and it is also why Xendit, rather than a bank, decides when to hold funds.

The pricing, and the change on 1 October

Xendit publishes a single regional rate card listing every method in every market, covering cards, virtual accounts, QR, e-wallets, retail counters and pay-later. As of September 2026 the payment method fees include the following, all excluding tax:

• Indonesia: domestic and international Visa, Mastercard and JCB 2.9% + IDR 2,000; Amex 3.9% + IDR 2,000; bank virtual accounts IDR 9,000; QRIS 0.7% including VAT; DANA 3%, OVO 3% (5.5% for digital merchants), GoPay 3% (5% for digital merchants); Alfamart and Indomaret IDR 9,000; Kredivo and Indodana 2.3%.
• Philippines: domestic cards 3.5%; international 4.5% + PHP 10; GCash 3%, Maya 2%; QRPh 1.5% (minimum PHP 15); 7-Eleven 1.5% (minimum PHP 15); pawnshop and bills-payment counters PHP 20 to PHP 25.
• Malaysia: domestic debit 1.9%, domestic credit 2.0%, international 3.8%; FPX MYR 1.20 personal, MYR 2.00 corporate; ShopeePay 2.5%.
• Thailand: domestic cards 3.2% + THB 10; international and Amex 4.5% + THB 10; PromptPay 2.5% (minimum THB 10); TrueMoney 3.2%.
• Vietnam: domestic cards 2.7%, international 3.3%; bank transfers 0.5% (minimum VND 1,000); ZaloPay 2.5%. Singapore: domestic cards 3.3% + SGD 0.50, international 3.8% + SGD 0.50; PayNow 1.3%.

Xendit's pricing policy, updated on 13 September 2026, adds a fixed Xendit processing fee to every transaction attempt from 1 October 2026 unless a contract says otherwise: IDR 4,000, PHP 11, MYR 0.90, THB 7, VND 4,700 or SGD 0.30. It applies to failed attempts, payouts and refunds as well as successful payments, and a refunded transaction keeps both its original fees. On large tickets this barely registers. On small ones it dominates: an IDR 50,000 QRIS payment costs IDR 350 in method fees and IDR 4,350 once the processing fee is added, and an IDR 100,000 card payment goes from IDR 4,900 to IDR 8,900. The same policy introduces a US$25 card and US$15 local-method chargeback fee charged whether or not the merchant wins, a US$50 monthly minimum (charged as a top-up to US$50) for dormant accounts and those invoicing under US$50 a month, a US$250 monthly fee for merchants still on the legacy API, and, from 1 December 2026, a 0.5% Shopify partner fee.

Settlement and holds

Settlement times vary by method. Xendit's payment-channel documentation lists cards at five business days in Indonesia, the Philippines, Malaysia, Thailand and Vietnam — slow by the standard of the region's wallets, most of which settle at T+2, and of Indonesian bank virtual accounts, most of which settle instantly. Early Settlement closes the gap for a fee Xendit does not publish. The services agreement lets Xendit apply fixed or rolling reserves, with a rolling reserve holding a portion of each transaction "typically between 30 and 180 days", delay or withhold settlement where information is incomplete or risk is suspected, and take up to 180 days to pay out a terminated account's balance, longer where it is investigating or covering chargebacks.

Reputation and recent history

The public review record is thin but negative. Xendit's Trustpilot profile is unclaimed and, as of September 2026, scores 1.9 on 12 reviews, all one-star. They describe slow or opaque activation, applications rejected after months of integration work, and unresponsive support. Twelve reviews is too few to measure a company that says it serves more than 15,200 businesses, and some are from consumers paying merchants, not Xendit's own customers. The company made two rounds of layoffs, about 5% of staff in Indonesia and the Philippines in October 2022 and a reported 200 people in January 2024, the second, which Xendit did not size publicly, reported as a move toward efficiency and profitability. Since then it has consolidated: full ownership of Malaysia's Payex in 2025 and the integration of the Philippine payments pioneer Dragonpay, in which it had invested in 2021, in July 2026.

Who should use it

Xendit makes most sense for a business selling in several Southeast Asian countries that wants local methods, payouts and marketplace splitting on one integration, with ticket sizes large enough that a fixed per-transaction fee is noise. A merchant in a single market with many small payments should work through the October 2026 fees at its own average ticket before signing, and ask for custom pricing, which Xendit's rate card says is available. Anyone who needs card money quickly should budget for Early Settlement or plan around the five-business-day wait.