EMQ, a leading financial settlement network, has recently announced that it has been able to enhance its cross-border payment abilities significantly to address any inefficiency in international payments faced by business in Singapore. The company has renewed the Major Payment Institution license recently by the Monetary Authority of Singapore (MAS), that empowers businesses to both send as well as receive money between Singapore and more than 80 main markets across the world.
EMQ’s CEO and co-founder, Max Liu stated that Singapore is known as the main gateway and powerhouse for all the cross-border trades in Southeast Asia. The payment service providers (PSPs) and SMEs in that area will be needing a network infrastructure with higher speed, increased flexibility, transparency and more certainty to be able to capitalize on the growth opportunities across the world.
The company is poised to provide a diverse customer base, secure with the new renewed license by MAS as well as an integrated solution for cross borders. It will offer a smooth global access to the fast-growing payment ecosystem.
With the global settlement network powered by EMQ, SMEs, PSPs and start-ups in Singapore will be able to both make and receive payments transparently and quickly to and from more than 80 global markets and have instant access to the Fast and Secure Transfers (Fast) network of Singapore. The Connect API of EMQ uses a scalable tech to facilitate effective cross-border transactions with a great amount of transparency as well as certainty.
The company’s platform driven by API equipped with in-built redundancies has been designed to meet the business requirements in terms of high transaction volumes, helping them to customize the workflows for a smooth experience.
Liu added that the company has a keen focus on offering more streamlined and reliable B2B as well as B2C cross-border transactions. The company will be investing majorly in the innovation of the cross-border solutions and the capability of compliance for the ongoing business scenario.