EMQ, a cross-border settlement network in Asia, and payment giant Visa today has undergone a strategic partnership to offer cross-border payments across the Asia-Pacific region.
The partnership aims to pair the capabilities of EMQ’s network and Visa‘s real-time push payments platform, Visa Direct, to offer customers “superior cross-border solutions with greater choice, transparency, and flexibility.”
Max Liu, co-founder and CEO of EMQ. acknowledged the advancements in the Asia Pacific local and cross-border payments ecosystem ultimately underpinned by a “tech savvy population.”
He explained: “With a challenging fragmented market across the Asia Pacific region, businesses and individuals will increasingly require a global money movement network that is versatile while making cross-border remittances streamlined, low-cost, secure, and real time,”
“Our partnership with Visa will provide the additional infrastructure and technology to partners across our entire payments ecosystem. We look forward to partnering with Visa to offer these capabilities and flexible options to our customers.”
Visa Direct aims to enable companies to leverage its global reach and trying to “transform domestic and cross-border payments for businesses and consumers. The Visa Direct platform is accessible in over 200 markets around the world and can be used to reach more than one billion consumer card accounts globally.
EMQ currently has a footprint in China, Hong Kong, Singapore, India, Indonesia, Japan, Vietnam, Cambodia, Thailand, Taiwan and the Philippines.
The company holds remittance licenses in Hong Kong, Indonesia, and Singapore as well as PCI DSS certification.
“As Visa continues to look to the future, we will continue to partner with scalable and robust networks that can deliver additional value to customers seeking new, convenient ways to send money internationally. In today’s highly connected world, sending and receiving money globally should be a frictionless experience,” said Rob Walls, Head of Consumer Products and Digital Solutions, Asia Pacific, Visa Inc.
“Our partnership with EMQ is another way that Visa will enable a wide choice of cross-border remittance solutions while accelerating the adoption of digital payments across the Asia Pacific region. We are excited about this new initiative and we look forward to our partnership with EMQ.”Recently Visa has been rumoured with starting a new ‘Cryto Team.
