EMQ has significantly augmented its real-time payments network with multi-currency settlements across Europe and Asia Pacific. These major enhancements provide a more transparent and cost-efficient payments solution for customers worldwide, while enabling them to capture new opportunities across the world’s fastest growing economies.
Recent enhancements include:
SEPA Instant Credit Transfer
We’ve added SEPA instant credit transfer (SCT Inst) capabilities to our network. The expanded capabilities enable global enterprises and their customers to send and receive a maximum of 100,000 euros within minutes, to eligible accounts, under the SEPA Instant Credit Transfer scheme of the European Payments Council (EPC).
Real-time payouts to wallets in Indonesia
Enterprises and their customers can now effectively transfer money to major mobile wallets including Ovo, Dana, LinkAja, ShopeePay, GoPay, Paytren, TrueMoney, IMKas, Astrapay in Indonesia.
Multi-currency B2B Payments to China
We’ve further strengthened our multi-currency B2B payment offerings for enterprises with options including same-day settlement in RMB and USD across our extensive payout network reaching over 150 banks in China. This enables EMQ’s customers to send payments to their China-based suppliers with increased certainty, efficiency and transparency, while providing direct access into one of the world’s largest trading nations.
High Value Cross-border Payments to Japan
This enables customers to send a maximum of JPY30 million bank transfer to their Japan-based business partners and recipients with increased certainty, efficiency and transparency across our expansive global payments network.
Real-time global payments to South Korea
EMQ further bolstered its real-time payments footprint with expansion to South Korea. This enables EMQ’s customers to seamlessly transfer funds with real-time KRW payouts to all bank accounts, while providing direct access into one of the most vibrant digital economies in the world.
Network expansion across South Asia
India – customers can now send a maximum of 500,000 INR (increased from 200,000 INR) directly into local banks in real-time under Immediate Payment Service and higher amounts via same-day fund transfers.
Nepal – customers now have direct access to real-time bank transfer of up to 1,000,000 NPR with additional same-day payment options.
Pakistan – customers can seamlessly transfer money with real-time payouts to mobile wallets, bank accounts and cash pick-up to support families and communities in the region.
Benefits to our customers:
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EMQ’s real-time payments capabilities span across Europe, Hong Kong, China, Thailand, Singapore, South Korea, India, Indonesia, Cambodia, Vietnam, Nepal, Philippines, the United Kingdom, and 19 markets in Africa, with expansion underway in the United States, Canada and Latin America. We are currently licensed in Hong Kong, Singapore, Indonesia and registered as a Money Service Business in Canada.
At EMQ, we understand reliable and efficient global payments are key to success for any cross-border business. Talk to our payment experts today and fast track your business globally.