International payments now delivered within minutes in either HKD or RMB to any bank in Hong Kong via the Faster Payment System
Global financial settlement network EMQ today announced a significant enhancement to its cross-border payment capabilities by adding Hong Kong’s Faster Payment System (FPS) to the network. This extends EMQ’s network infrastructure deeper into domestic markets, enabling global customers to cost-effectively send funds in both Hong Kong Dollar (HKD) and Renminbi (RMB) in minutes, reaching a wider set of beneficiary accounts across all banks in Hong Kong.
“Across the global payments landscape, digital transformation is driving a paradigm shift in customer expectations for an agile network infrastructure like EMQ that facilitates near real-time cross-border payouts in local currencies with an intuitive international payments experience,” said Max Liu, co-founder and CEO of EMQ. “By connecting EMQ’s global network to Faster Payment System in Hong Kong, we are able to provide increased access to the global payments ecosystem while helping our customers and partners tap into new markets.”
Already live in Hong Kong, the expanded payments capabilities allows EMQ to streamline and process international payments for businesses anywhere in the world through one single integration with EMQ Connect API. Our API-powered solutions can effectively settle any cross-border transactions and support a multitude of front-end use cases, while enabling global businesses to automate their workflows and optimize operational efficiency.
“With our long-standing commitment to the Hong Kong community, we continue to put innovation at our core to enhance our network capabilities and deliver value-added solutions with “in minutes” service levels for our customers. We look forward to helping our global customers expand into this high growth market while connecting local enterprises to over 80 markets across our global network,” Liu added.
With a network footprint touching billions of people, EMQ’s network spans over 80 markets throughout Asia Pacific, Africa, Europe and North America. With the addition of Hong Kong, EMQ now offers in minutes cross-border payments across China, Singapore, South Korea, India, Indonesia, Cambodia, Vietnam, Nepal, Philippines, the United Kingdom, and 19 markets in Africa, with more markets underway in the near future. 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.