Xendit Kick-Starts Malaysian Expansion through Payek Acquisition

By Editorial Team 16/01/2023
digital payment
Summary

Fintech company Xendit announced its expansion into the Malaysian market. The company will provide payment solutions for small and medium businesses, startups, to giant corporations in the country. Technode Global reported that Xendit's investment in Malaysian fintech Payex marked the beginning of its regional expansion. Payex is a payment gateway provider with a license from Bank Negara Malaysia.

Xendit's management revealed the strategy to acquire more local merchants to boost its ability to support local businesses' growth before finally expanding to other countries. "We are proud to be officially bringing our payment infrastructure and ecosystem to the Malaysian market - boosting the growth trajectory of local startups through our secure and easy-to-integrate payment system," Xendit founder and CEO Moses Lo said.

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