HONG KONG & INDONESIA, April 22, 2020
Fund Transfer Operator license further strengthens EMQ’s capabilities to provide compliant, end-to-end cross-border solutions across the region
EMQ, a global financial settlement network, today announced a significant enhancement to its cross-border payment solution, which enables businesses both locally and globally to seamlessly expand their reach and further improve their payment capabilities with greater speed, certainty and increased flexibility. Additionally, the company’s Fund Transfer Operator license from Bank Indonesia, provides businesses with fully compliant access to the payment ecosystem to and from over 80 key global markets.
“Across Southeast Asia, the Internet economy continues to grow at an unprecedented pace with Indonesia at the forefront of this growth, valued at US$130 billion by 20251. For industries such as e-commerce, online travel, and ride-hailing, they will require a network infrastructure and payment strategy that comply with regulatory requirements and eliminate the friction associated with payment pain points,” said Max Liu, co-founder, and CEO of EMQ. “Leveraging our Fund Transfer Operator license and an enterprise-grade turnkey solution, we are laying the foundation for these next-generation enterprises to enrich their product experiences and expand their reach internationally.”
Powered by EMQ’s tech-enabled financial settlement network and a single API integration businesses including e-commerce, payment service providers and SMEs in Indonesia, are able to make and receive payments quickly and transparently to and from over 80 key global markets. The company’s scalable API driven platform with high availability is designed to meet the needs of businesses with high transaction volumes, enabling them to streamline their workflows for a seamless user experience. In addition, global businesses can also access millions of mobile wallets and bank accounts in Indonesia.
“Empowering next-generation enterprises such as fintech start-ups remains an important priority for our operations in this region. The continued expansion of EMQ’s global network proposition underscores our commitment to enable global businesses to send money anywhere in the world and to any endpoint,” Liu added.
With a network footprint touching billions of people, EMQ recently ramped up its network expansion across Asia Pacific, Africa, and North America, including product enhancements throughout Southeast Asia. The company is currently licensed in Hong Kong, Singapore, Indonesia and registered as a Money Service Business in Canada. EMQ was also accepted into Taiwan’s Regulatory Sandbox by the Financial Supervisory Commission in Taiwan.
EMQ operates a global financial settlement network that provides a faster, more affordable and transparent cross-border settlement solution for businesses around the world, while adhering to complex regulations and compliance standards in different markets. The company’s flexible network infrastructure has been built to effectively settle any cross-border movement of capital and can be deployed across multiple vertical industries for a broad range of services, including e-commerce, merchant settlement, procurement, remittance, payroll, etc. www.emq.com
1 Google, Temasek, Bain & Company e-Conomy SEA 2019 Report, Temasek. 2019