Beyond The Valley Why cross-border payments are Asia’s next big tech frontier — Insights from an Indonesian unicorn
Nov 7, 2025
Tessa Wijaya, Co-founder and COO of the Indonesian fintech unicorn Xendit, discusses the transformative potential of cross-border payments in Southeast Asia. She highlights Xendit’s role in unifying fragmented payment systems, integrating local banks, and overcoming regional challenges. Tessa shares insights on the rise of stablecoins for B2B transactions while addressing the complexities of crypto regulation. She also reflects on her early days in the food business and the enduring lessons of entrepreneurship, alongside ambitions for future innovations in payments.
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Payments Fragmentation Is The Core Problem
- Southeast Asia's payments are fragmented with many unbanked consumers and diverse local methods.
- Xendit aggregates bank transfers, QR payments and cash-in-store to let businesses accept payments with one integration.
Local Teams First For Market Entry
- When entering a new country, hire local teams who understand partnerships and regulation.
- Build a full footprint, not just sales, to integrate banks, wallets and retail partners effectively.
QR Codes Drive Payment Behavior
- QR-code payments dominate many Southeast Asian markets, functioning as bank-account transfers via mobile apps.
- This local dominance shapes which payment infrastructure innovations will succeed regionally.