140%
Payment volume growth from 2021 to 2022
60%
Manpower needed for reconciliation
5x
Faster monthly reconciliation time
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Mekari is a comprehensive digital payment solution designed to automate payment processes for both B2C and B2B businesses, so businesses can manage their finances more efficiently, promoting growth and scalability.
Mekari offers seamless transaction experiences, combining invoicing, payment, and accounting into one platform. Merchants can:
- Easily send and receive payments through multiple payment methods on a single platform.
- Save on bookkeeping time and cut down manual administrative processes, as all transactions are automatically recorded in Mekari Jurnal.
Thousands of merchants benefit from Mekari’s seamless automated system. However, to continue providing all the benefits without a hitch, Mekari needed to overcome some challenges arising from having such a large and rapidly growing user base.
Challenges
Difficulties finding a reliable, cost-effective partner to provide diverse payment methods
To empower its merchants to send and receive payments, Mekari needed a cost-effective way of providing both money-in and money-out solutions for them.
It’s also important to provide a wide range of payment methods so that Mekari’s merchants can capture more of the market by offering all the payment methods their end customers love.
However, doing this on its own–by integrating separately with dozens of banks and payment providers–would be tedious, time-consuming, and expensive.
Mekari used to work with another payment gateway to overcome this challenge, but the costs were higher, and their customer support and data reconciliation capabilities were lacking.
Difficulties balancing the books involving thousands of merchants
With thousands of merchants, the number of transactions to be reconciled each month easily goes into the millions. This poses some challenges:
- Reconciling these transactions manually took a 5-person team 10 days every month. It was tedious because team members had to manually match data for each transaction from Mekari’s internal dashboard to the payment gateway dashboard.
- Because it was impossible to separate the transaction data across the thousands of merchants, the books were often not balanced despite the team’s efforts.
- It was difficult for Mekari to know with 100% certainty merchants’ balances at any one time
Mekari recognized that manual effort is not the way to go and started looking for a more efficient solution.
Solutions
Seamless, cost-effective payment gateway with excellent support
By partnering with Xendit, Mekari can provide its customers with the convenience of digital payment services, such as virtual account, e-wallet, and credit cards, from leading banks and providers in Indonesia, hassle-free and cost-effectively.
Mekari is also highly satisfied with Xendit’s support team’s knowledge and flexibility. Available 24/7, the team always resolves issues quickly, without excessive formality–sometimes, a quick WhatsApp message was all it took!
Single source of truth for all transactions, with separate ledgers
Mekari decided to implement Xendit’s Platform Payments to solve its balance sheet challenges. With Platform Payments, Mekari is now able to:
- Create a sub-account for each Mekari merchant
- Have all transactions recorded automatically under separate ledgers showing the finishing and starting balances for each merchant
- Produce clean reporting for each merchant, with clear breakdown of payment and disbursement data–and even the admin fees. Mekari’s team no longer needs to calculate the balance, because it’s already calculated automatically using Xendit Platform Payments’ ledger system. All they need to do is download the reports from Xendit’s dashboard.
- Use the balance and transaction tabs on Xendit Platform Payments as the single source of truth for all transactions
With this solution, not only does Mekari’s team spend less time and effort on reconciliation, but the books are also balanced, and Mekari’s team can accurately know how much each merchant can withdraw.
Results
140% increase in transaction value through Mekari
The reliable and varied payment methods provided through Xendit help merchants process payments more easily and have led to more merchants and more transactions processed through Mekari–a 140% growth from 2021 to 2022.
60% decrease in manpower needed for reconciliation
Because of the automated nature of Platform Payments, the team that was needed to work on monthly reconciliation has decreased from 5 people to 2 people.
5x faster reconciliation time
While the team previously needed 10 days to complete the reconciliation process, now, with the much-decreased workload, it takes only 2-3 days.
Accurate account balances
Since Mekari now has an accurate source of truth for the balances of each merchant, it is no longer possible to unknowingly allow merchants to withdraw more than the balance they have.
Before Xendit | After Xendit | |
Accepting payments |
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Reconciliation |
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Support |
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Now, with Xendit’s Platform Payments solution, reconciliation is a breeze—in fact, we can do it 5x faster! And if at any time our merchants have any questions about their balance, we always know the answer.
