Finished a dinner and need to split your bill among friends? Ah… not always easy to transfer money; and keep track of everything… I think we all went through the pain of reaching out to an ATM at the last minute to make sure we could pay a friend. Well, Xendit is mobile payment app that allows you to pay your friends in a simple, free, and convenient way. Xendit is a growing start up based in Indonesia – They captured my attention; and so I wanted to feature them on Seishin Blog.
I asked the Xendit team a few questions…. If you are not already a user of Xendit, meet the team, and discover what the app can do for you !
Can you tell us more about yourself?
We are a team of five people with backgrounds from Amazon, BCG, PayPal, Ripple Labs, and Expedia. We all have degrees from UC-Berkeley (either Computer Science or MBA).
All of us have a passion for making payments friendlier for all people.
How did you start Xendit? Tell us more !
We started working on Xendit about 15 months ago while a couple of us were still in school. Two of us were in an Entrepreneurship class at Berkeley, and for the final project we had to pitch a business idea. It’s really just grown and evolved from there.
Our CEO, Moses, grew up in the region and has set a good vision for us. And as a team, we have always believed that Southeast Asia would be the most dynamic region for mobile payments over the next several years. Take Indonesia, our target market. Indonesians are some of the most active social media users in the world, and there are more people with smartphones (100MM by 2016) than there are people with bank accounts (60MM), and less than 5% of people use credit cards.
We think there is a strong business case for creating a payments product that connects people in a way that is simpler than their current options, and we are in a unique time in history for this to happen.
And what would you say is your main challenge?
Our biggest challenge has honestly been managing our growth. We have had to start waitlisting users now, so we can ensure that our early customers have a quality experience. We’ll be relaunching the product in a few weeks.
With all of this growth we are also learning how to balance. As a small team, we have to focus on more short-term goals to drive our company forward. At the same time, we have to keep our eye on building efficient processes and scalability. It’s a really rewarding experience to balance “how can we build this to support 10,000 users?” versus “how can we build something that will help the users that we have now?”
I see! thanks for answering my questions ! and wishing you all the best.
Visit Xendit website: http://www.xendit.co
Available to download on your App Store or Google Play.
Visit Xendit blog: http://blog.xendit.co