Fintech company EMQ and mobile payments provider QFPay have announced a strategic partnership to enable real-time merchant settlement across Indonesia, delivering a secure and scalable infrastructure for mobile payments.
Powered by EMQ’s API, the new merchant settlement platform is specifically designed for businesses, facilitating a consistent settlement process with any merchant for a fraction of what traditional vendors charge.
Once integrated, the new merchant settlement platform would bring benefits in efficiency and speed to mobile payments globally, said Max Liu, co-founder and CEO of EMQ.
“Indonesia is Southeast Asia’s largest economy and is one of the top destinations for Chinese tourists, who hold significant buying power with diverse payment needs,” said Liu. “To address this, mobile payment providers such as QFPay, are expanding with different international merchants, which in turn require a cross-border platform for real-time merchant settlement.”
“Our integration with EMQ’s scalable API platform has empowered us with a faster, more cost-effective way to deliver payments to our merchants and suppliers in Indonesia,” said Patrick Ngan, co-Founder and president of QFPay. “By leveraging our experiences in serving over 1 million merchants, we are confident in continuing to bring secure mobile payment services and solutions to worldwide merchants.”
Hong Kong-based EMQ is building a financial network across Asia with a focus on remittance. Its footprint currently covers Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines, with plans underway to expand across other key business markets first in Asia and then globally. EMQ received its Fund Transfer Operator license from Bank Indonesia in March 2017.