EMQ, a Fintech innovator with an extensive remittance network in Asia, and QFPay, the leading global mobile payment and big data technology company from China, today announced a strategic partnership to enable real-time merchant settlement across Indonesia, delivering a secure and scalable infrastructure for mobile payments in the region.
“Indonesia is Southeast Asia’s largest economy and is one of the top destinations for Chinese tourists, who hold significant buying power with diverse payment needs. To address this, mobile payment providers such as QFPay, are expanding with different international merchants, which in turn require a cross-border platform for real-time merchant settlement,” said Max Liu, Co-founder and CEO of EMQ. “Our partnership with QFPay is a great validation that our extensive settlement network provides a critical gateway that connects businesses. We are pleased to partner and support QFPay with its expansion across Asia.”
Powered by EMQ’s scalable API, the new merchant settlement platform is specifically designed for businesses, facilitating a consistent settlement process with any merchant for a fraction of what traditional vendors charge. Once integrated, the new merchant settlement platform would bring benefits in efficiency and speed to mobile payments globally.
“This is an exciting milestone in our partnership with EMQ as we continue our strategic expansion across Asia,” said Patrick Ngan, Co-Founder and President of QFPay. “Our integration with EMQ’s scalable API platform has empowered us with a faster, more cost-effective way to deliver payments to our merchants and suppliers in Indonesia. By leveraging our experiences in serving over 1 million merchants, we are confident in continuing to bring secure mobile payment services and solutions to worldwide merchants. We look forward to further expanding our partnership with EMQ across Asia.”
EMQ currently has footprint in Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines, with plans underway to expand across other key business markets first in Asia and then globally, covering North America, Europe and the Middle East. The company also received its Fund Transfer Operator license from Bank Indonesia in March 2017.
Headquartered in Hong Kong, EMQ is a financial technology startup that is building a financial network across Asia with a focus on remittance. With a footprint across Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines, the company partners with financial institutions and other strategic partners in each country to enable and settle cross-border remittance via banks and various modes for top-up and cash pickup. The company received its Money Service Operator license from the Hong Kong Customs and Excise Department in September 2014 and its Fund Transfer Operator license from Bank Indonesia in March 2017.
Headquartered in Beijing, QFPay was established in 2011 and has been a PCI-DSS (Payment Card Industry Data Security Standard) Level 1 payment service provider for five consecutive years. It provides mobile payment services and digital marketing solutions to merchants and offers business intelligence platform to connect merchants and customers. QFPay has over 200 billion RMB GMV to date and is backed by Sequoia Capital, Matrix Partners, Vectr Ventures, Whiz Partners, etc. QFPay Overseas is now offering “payment+” services to help merchants to establish a powerful mobile payment solution and marketing presence in China market in order to seize the opportunities of fast growing Chinese outbound travel business.