EMQ Launches Same-Day Settlement For X-Border B2B Payments

To bolster global payments for businesses throughout the world, EMQ launched its new enterprise payment technology with same-day settlement functions in local currencies throughout eight countries. The nations include China, Indonesia, India, the Philippines, Malaysia, the United Kingdom, Singapore, and Japan, according to an announcement. 

The enterprise settlement technology of EMQ lets companies, banks, and other licensed financial institutions access same-day settlement with more transparency, certainty, and speed in important European and Asian strategic markets. And the firm’s application programming interface (API) infrastructure is created with high availability to fulfill the requirements of enterprises that have high transaction volumes.

EMQ Co-Founder and CEO Max Liu said in the announcement, “Enterprises are increasingly international in scale and it is fueling the explosive growth in cross-border B2B payments — valued to exceed US$218 trillion by 20221. Given today’s B2B payments process remains cumbersome and friction-filled, enterprises will need a robust network infrastructure like EMQ that combats the complexities in processing real-time international payments.”

EMQ has, for its part, recently increased network growth throughout North America, Africa and Asia Pacific, with access to more than 80 important international markets. As it stands, EMQ is licensed in Singapore, Indonesia, and Hong Kong, while it is registered in Canada as a Money Service Business. Also, the company was accepted into the regulatory sandbox in Taiwan by the Financial Supervisory Commission in Taiwan. 

Last May, news surfaced that Shanghai Commercial Bank (SCB) was working with EMQ to bolster cross-border money transfers. The SCB payment platform would work with the EMQ network to reportedly provide secure and cost-effective cross-border offerings. David Kwok, SCB managing director and CEO, said at the time per reports, “We are delighted to partner with EMQ as a part of our digital banking strategy to offer customers a fast, convenient and secure money transfer service through our banking network and mobile app.”