From rails to risk: The fintech profit stack in Indonesia & SEA

Indonesia’s payments rails are now at massive scale – QRIS alone reached roughly 59 million users and 13.7 billion transactions in 2025 – pushing payments closer to a utility layer and shifting the real value creation to what sits on top of the rails: regulated distribution, product depth, unit economics, and risk-aware growth. This panel brings together key building blocks of that profit stack. Xendit powers payment acceptance and payouts for businesses across Southeast Asia, while Pluang is building a consumer investment platform that is expanding access to multi-asset products for Indonesian users. With Peak XV’s operator lens on governance, capital allocation, and sustainable growth, and Cento Ventures moderating from the early-stage investing frontlines, the discussion will unpack what it takes to convert transaction volume into durable, compliant earnings – what monetises, what breaks under regulation, and where the next wave of fintech winners will actually be built.