Xendit collaborates with CyberSource to simplify payments in Indonesia

PR70156

JAKARTA, Indonesia, Sept. 19, 2017 /PRNewswire=KYODO JBN/ --

- Xendit, first in Asia Pacific to partner with CyberSource using Flex API

connection, makes digital transactions in Indonesia more seamless

- CyberSource's holistic payment management solution helps Xendit increase

successful transaction rates by 30%

- Xendit now allows Solution As A Service(SaaS), subscriptions are possible via

APIs

CyberSource, a Visa company(NYSE:V), and one of the world's largest providers

of eCommerce payment management services, has collaborated with Xendit, a

fast-growing payment service based in Indonesia. This collaboration means

Xendit is the first in Asia Pacific to use CyberSource Flex API to tokenize

customers' data, thereby enabling them to provide a robust payment gateway for

next-generation businesses to send and receive payments more conveniently and

securely without the risk of storing customer data. As a result, Xendit's

successful transaction rates increased by 30%[1].

Founded in 2014, Xendit's mission is to simplify payments by providing an

end-to-end payment solution that delivers frictionless payments. Xendit offers

a payment gateway that allows businesses to quickly and securely accept

payments through card and bank transfers.

Despite the fact that Indonesia's digital commerce market is expected to hit

US$18.5b in 2017[2], the country faces execution challenges due to consumers'

preference for payment via bank transfers, which are heavily reliant on the use

of physical tokens to execute the transaction, and frequently do not include

the information necessary for the merchant to identify the sender[3]. As such,

Xendit has sought to solve these payment problems by offering a secure and

reliable payment infrastructure that supports multiple payment types, and in

turn, helps businesses of all sizes embrace digital payments.

Xendit leverages CyberSource's comprehensive suite of payment processing and

fraud management solutions to enable businesses to securely accept a wider

range of payments, including different card types and brands across the world,

which affords them the ability to provide their merchants with customized

payment services and an enhanced user experience. At the same time, businesses

which leverage Xendit's payment services can do so securely without having to

handle any sensitive customer payment details.

Xendit also uses CyberSource to enhance its credit and debit card payment

services, which integrates with platforms such as WooCommerce for easy

integration[4]. This lets companies with subscription business models automate

payments for their customers, such as SaaS platforms, non-profits, or premium

content providers. The all-in-one solution allows Indonesian companies to

accept credit or debit cards issued from across the world, all while

benefitting from the reliability of CyberSource. Going forward, the next

generation of Southeast Asian Software as a service (SaaS) can be built on top

of Xendit's rails.

"At Xendit, our goal is to make payments simple and pleasant. We started our

journey by providing businesses with the fastest way to disburse funds

throughout the country, through the use of application program interfaces

(APIs). In automating the process, we have enabled customers to quickly and

efficiently scale their business. Now, our customers want more," commented

Moses Lo, Chief Executive Officer, Xendit. "CyberSource's customized payment

processing and fraud management solutions have enabled us to offer a broader

range of options to our customers, thus providing them with flexibility to

build their desired user experience, while minimizing the number of systems and

endpoints falling within the scope of PCI DSS compliance."

As the digital economy continues to evolve and impact nearly every business,

success today requires a holistic approach to managing fraud, especially as

customers constantly engage across multiple channels on a variety of devices.

By leveraging CyberSource's multi-phased fraud management solution, including

CyberSource Decision Manager, Xendit is able to offer a world-class fraud

detection solution to its customers, while dynamically allowing low-risk

transactions to proceed. This has resulted in an improved payment experience

for Xendit end-users, and reduced payment drop-off for businesses, increasing

successful transaction rates by as much as 30%[5].

"As eCommerce continues to boom in Southeast Asia, providing a seamless

customer experience is of unparalleled importance -- merchants need to provide

a faster, more secure payment experience to differentiate themselves from their

competitors," said Chew Ann Wee, Senior Regional Director, Southeast Asia,

CyberSource. "As customers engage with a brand across multiple channels, it is

crucial for that brand to provide a superior and consistent brand experience.

We are delighted to work with Xendit to ensure a seamless customer journey, end

to end."

About CyberSource

CyberSource, a wholly owned subsidiary of Visa Inc., is the only integrated

payment management platform built on secure Visa infrastructure, with the

payment reach and fraud insights of a massive $358Bn global processing network.

CyberSource and Authorize.Net payment management solutions help 475,000 large

and small businesses grow sales, mitigate risk, and operate with greater

agility. The company is headquartered in Foster City, California and maintains

offices throughout the world, with regional headquarters in Singapore, Tokyo,

Miami/Sao Paulo and Reading, U.K. For more information, please visit

http://www.cybersource.com/asiapacific.

About Xendit

Xendit provides payments infrastructure in South East Asia. We have an end to

end solution that allows modern businesses to accept payments through cards and

bank transfers, manage funds through escrow/custodian accounts and disburse

funds through the fastest pipes in the markets we serve. This means we deliver

frictionless payments across tech and traditional businesses. www.xendit.co

1-Xendit, January 2017

2 Statista, Digital Payments-Indonesia(

https://www.statista.com/outlook/296/120/digital-payments/indonesia)

3 Jobs Connected, Interview¡VXendit(

http://www.jobsconnected.com/interview-xendit/), 22 September 2016

4 Xendit, January 2017

5 Xendit, January 2017

Media Contact

Subeer Dutt

Ying Communications

+65-6779-5514

subeer.dutt@yingcomms.com

SOURCE:  CyberSource