Payment Transactions through Wallex Startup Increase Fourfold
Wallex’s popularity among Indonesian businessmen has succeeded in driving the growth of the number of company transactions by four times throughout 2020 when compared to the previous year.
According to Wallex’s COO, Hiro Kiga, during the Covid-19 pandemic, more and more Indonesian companies are adopting online solutions for overseas payments. Wallex is one of the most popular solutions for companies from Indonesia as a specialist platform for international outbound transactions that can process all transactions online.
Based in Singapore, Wallex now serves hundreds of companies in Indonesia, more than half of which switched to Wallex during 2020. To date, Wallex has nearly 10% of the market share of overseas payments processed by non-bank financial institutions.
“More and more companies in Indonesia are adopting our online solutions because they want to avoid the activity of going to bank branch offices when making transactions abroad,” said Hiro Kiga, in his official statement, Friday (15/1/2021).
Has an Advantage in the Market
Hiro said that Wallex’s strength lies in its ability to overcome the challenges commonly faced by online payment solutions abroad. Wallex has successfully operated a variety of crucial factors, including dynamics of real-time currency exchange rates, integration with foreign banks, and very strict licensing requirements for payment solutions.
Hiro said that clients in Indonesia are attracted to Wallex because of the presence of an account manager who helps each client implement financial solutions from start to finish.
“One of the special services from Wallex is providing an account manager for every corporate client. We take these steps to provide a sense of security and comfort for our clients, considering that they can ask for help easily, simply by phone or WhatsApp,” said Hiro Kiga.
Hiro also emphasized Wallex’s high commitment to the Indonesian market. This is reflected in the Wallex team, where 50 of 70 global staff work from Indonesia.
Online payment solutions have become a major pillar for business continuity during the Covid-19 pandemic because they allow companies to continue making regular payments without health risks to employees.
The good news is that Indonesia’s payment ecosystem is proven to be able to handle the surge in online transactions during 2020. This opportunity is being used by Wallex as a specialist platform for safe international outbound transactions in Indonesia.
Wallex is Well Received by the Indonesian Market
Wallex has also been well received by the market so that it has skyrocketed to become the top choice among companies in Indonesia. Wallex’s strength lies in its ability to overcome the challenges commonly faced by online payment solutions abroad.
The company has managed to operate a number of crucial factors, including dynamics of real-time currency exchange rates, integration with foreign banks, and strict licensing requirements for payment solutions. Thus, Wallex becomes a capable solution in the new normal era.
“There are more companies in Indonesia adopts our online solutions to avoid the activity of going to bank branches when making international transactions,” said Hiro Kiga, COO of Wallex in an official statement, Thursday (14/1).
He added that they realized they could save time and money by using Wallex to make online payments. Wallex is a handful of solutions that have existed from the start in Indonesia to help businesses send money overseas entirely online.
“We also provide a much larger number of country destinations and foreign currency options than traditional banks,” he added. Corporate clients can use Wallex’ online platform to convert Rupiahs to other currency and transact in 46 currencies to 180 countries. This startup offers a flat fee that allows users to save at least IDR 300 hundred on each transaction when compared to bank payments.