International cross-border payments delivered in minutes through NAPAS network
EMQ, a global financial settlement network, announced that it has further expanded its real-time international payment capabilities across Vietnam, leveraging National Payments Corporation of Vietnam (NAPAS) – the country’s domestic payment network. This will further support the government’s vision to accelerate Vietnam’s digital economy under the National Digital Transformation Program by 2025.
“Southeast Asia is growing at an unprecedented pace with Vietnam as the fastest growing economy, and it is fuelling the demands for a network infrastructure like EMQ that facilitates in minutes cross-border payments across the region,” said Max Liu, co-founder and CEO of EMQ. “With our commitment as a trusted network for the global communities, we are constantly optimizing our network with real-time service levels that enable cross-border payments with greater speed, certainty and transparency. Our expanded capabilities across Vietnam complement our efforts in providing the most reliable digital financial solutions for our customers, while supporting digital transformation and economic growth across the emerging markets.”
Powered by EMQ’s global financial settlement network, customers from around the world can now seamlessly transfer money back home in minutes to 44 banks under NAPAS in Vietnam, and enjoy a full range of pay-out options including instant cash pickup, bank deposits to the partnered banks, or home delivery of cash to support their families and communities. With the addition of Vietnam, EMQ now offers in minutes cross-border payments across China, Singapore, India, Indonesia, Cambodia, Vietnam, Nepal, Philippines, the United Kingdom, and 19 markets in Africa, with more markets underway for real-time capabilities by the end of 2020.
“At EMQ, we have consistently pursued operational excellence and network enhancement to deliver innovative and value-added solutions for our customers,” Liu added. “Our expansion across Vietnam demonstrates our commitment in creating a more inclusive economy in a region, where only 27% of the population have access to financial services.”
With a network footprint touching billions of people, EMQ’s flexible and scalable infrastructure directly integrates to all the end-points, facilitating seamless, real-time and cost-effective cross-border settlements. Today, EMQ’s network spans over 80 key global markets throughout Asia Pacific, Africa, Europe and North America. Currently, the company is 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.