Jakarta (ANTARA) - Xendit, one of Indonesia’s top financial technology companies that provides payment solutions, announces the launch of “Xendit Business For Good” initiative to support up to 200 SMEs and businesses during this challenging time in ensuring their business continuity.
Tessa Wijaya, COO, and co-founder of Xendit said, this program was started with an understanding of Xendit’s management that businesses may experience disruptions resulting from the COVID-19 global pandemic.
“We understand that businesses might go through a tough time during this outbreak and we wanted to help wherever we can. We know that a little financial support can go a long way and with this initiative, we hope we can ease the burden of local businesses and continue to support them” said Tessa.
With social distancing policy, work from home initiatives and the rising of some daily needs’ prices, these conditions change the dynamic of economic activities which might cause some businesses to slow down, while others might not survive the crisis.
However, there are also some businesses that could thrive during the coronavirus crisis. In China, food-delivery services play an important role in helping people overcome the food crisis when a novel coronavirus epidemic is raging. In order to mitigate the distribution of the coronavirus, food service industry entrepreneurs have developed a new method for delivering food to the public in the form of food delivery services without having to interact with delivery couriers (contactless delivery).
This example shows how businesses can be successful in times of crisis by going digital. The situation also highlights the importance of online payment methods that will support a seamless non-physical service.
Tessa continued, in this unprecedented moment where the global outbreak of COVID-19 has significantly impacted communities and businesses around the world, more than ever, Xendit feels a responsibility to help.
"To support businesses in local communities during this challenging time, Xendit has launched Xendit Business for Good program with grants to 100 selected businesses, and financial support to another 100 businesses with limited working capital," she said.
In addition, Xendit will support authorized charities, non-profit organizations in the fight against COVID-19 in their collection of donations and fundraising efforts. Under the grants program, Xendit will waive fees for e-Wallets and VAs (bank transfers) for fundraising for the purchase and/or distribution of most needed protective gear (APD) for medical front liners and also donations to fund purchases of COVID-19 test kits.
There are two types of financial support provided in the Xendit Business For Good program:
Business for Good -- Grants, which helps businesses and non-profit organizations to go digital and start accepting payments within a few working days. Xendit will enable various payment methods, and we will waive transaction fees for 1 month.
Business for Good -- Financial Support, where Xendit provides financial support that can be used to cover operating expenses including payroll needs. We provide financial support at low interest rates, with fast and flexible financing that businesses can repay as they earn.