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Payments General

Visa collaborates with EMQ to expand cross border business

Thursday 21 March 2019 | 10:29 AM CET

Visa has entered into partnership with cross-border settlement network EMQ, to offer cross-border remittances across Asia Pacific.

With this deal, Visa and EMQ will offer their customers cross-border solutions by integrating EMQ's extensive network with Visa's real-timepush payments platform, Visa Direct. Notably, Visa Direct allows companies to leverage its global reach and scale to transform domestic and cross-border payments for businesses and consumers.

Visa is eying the Asia-Pacific remittance market given the rising demand by businesses and tech-savvy individuals as these increasingly require a versatile global money movement network which can make cross-border remittances streamlined, low-cost and secure in real-time.

For Visa, the acquisition of EMQ is meant to strengthen its presence in mainland China, Hong Kong, Singapore, India, Indonesia, Japan, Vietnam, Cambodia, Thailand, Taiwan and Philippines. EMQ is also expanding in Asia, Europe, North America and the Middle East, and holds remittance licenses in Hong Kong, Indonesia, and Singapore as well as PCI DSS certification.

More: Link
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