Xendit Philippines is eyeing to onboard more small and medium enterprises (SMEs) on its platform amid growing interest from start-ups and individual sellers, as well as the increased adoption of e-commerce amid the pandemic.

The payment solutions provider started its focus on the SME market at the beginning of the year, Xendit Philippines Chief Operating Officer Christian Reyes said at an event hosted by the BusinessMirror on Friday.

"Admittedly, it was a slow start at the beginning, but we've actually started gaining momentum and traction. We are already in the hundreds of SMEs onboarded and we think there's a lot of growth that you can see there," he said.

"As we onboard more SMEs, we are creating relationships, we're listening to what their pinpoints are and learning from that experience," Reyes said, noting that doing so will help the company improve its product offerings.

With the anticipated growth, the Xendit official said they have been investing in machine reading technology to support the processing of SME applications. The technology, he explained, can help in examining the documents and streamlining the identification system.

Reyes explained that it is a must to streamline the processes for merchant onboarding as the company grows.

"As we continue to grow and scale up, as we actually get more and more SMEs signing up, we don't just want to hire more people to actually facilitate those applications," he said.

What sets Xendit apart from e-wallet services—which has become a popular payment method—is its "comprehensive" offering of services for the SMEs, Reyes said.

He identified the company's services: direct debits, credit cards, over-the-counter payments, e-wallets and buy-now-pay-later schemes.

"We were able to consolidate all of that so you don't have to go to three different pages, track your payments to see if this person has already paid the invoice," he said.

While e-wallets are one of the fastest-growing payment schemes, Reyes noted there are still other payment options that need to be provided. This will help the merchant to reach out to more customers, he said.

The payment solutions provider launched in June payment gateway services to individual business owners amid the growing number of sellers using social media to sell their goods.

Through its platform, Xendit said, customers can make direct payments to certain banks, e-wallets and other financial institutions. The sole proprietors, corporations and partnerships, meanwhile, can also process credit-card payments.

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