Why is it so frustratingly inconvenient?
According to EMQ’s cofounder and CEO, Max Liu, it all comes down to “massive market fragmentation in the Asia Pacific region and the presence of multiple intermediaries within the payments ecosystem that lengthen and complicate the process.”
As populations in the Asia-Pacific region become increasingly more mobile, there has increasingly been more pressure to radically transform traditional cross-border remittance into a real-time, transparent, and inexpensive product.
Meeting this growing need for a more streamlined cross-border transaction process is EMQ. Its flexible and scalable infrastructure eliminates unnecessary intermediaries and directly integrates to all the end-points, facilitating a seamless, real-time and cost-effective cross-border settlement.
The company’s global financial settlement network also caters to the significantly unbanked populations, allowing everyone to participate in the digital economy and addressing a key challenge of the region – financial inclusion.
Making financial services accessible to underserved populations remain a challenge in the region. Nearly half of the world’s unbanked population resides in Asia and there are almost 450 million (73%) unbanked individuals in Southeast Asia.