EMQ expands operations in South Korea to strengthen payment capabilities

By Nikita Chaurasia  | Date: 2021-01-06

EMQ expands operations in South Korea to strengthen payment capabilities

Hong Kong-based multinational financial settlement network EMQ Inc. has reportedly expanded its operations into South Korea to increase access to its global network ecosystem and offer more transparent as well as efficient cross-border payout capabilities to its consumers across the globe.

According to reliable sources, the company plans on leveraging the EMQ Connect API to provide access to real-time AML (anti-money laundering) screening along with automated workflows embedded with FX (foreign exchange) capabilities. These functionalities are capable of supporting a multitude of front-end use cases and will enable global businesses to optimize their operational efficiency by automating their workflows.

The recent venture comes along the heels of EMQ’s series of expansion initiatives aimed at boosting its global network infrastructure, which is established in more than 80 global markets across North America, Europe, Africa, and Asia-Pacific.

Sources confirmed that EMQ currently offers cross-border payment solutions to the United Kingdom, Philippines, Nepal, Vietnam, Cambodia, Indonesia, India, Singapore, and China, with around 19 markets in Africa. 

CEO and co-founder of EMQ Max Liu was reported saying that South Korea’s flourishing retail e-commerce sector coupled with the company’s agile network infrastructure will facilitate seamless cross-border payouts in local currencies without multiple intermediaries.

Liu added that the recent venture marks a significant milestone in the company’s course of global expansion and will strengthen its market presence in Asia-Pacific.

It is also worth mentioning that EMQ has been registered as a Money Service Business in Canada and is officially licensed in Indonesia, Singapore, and Hong Kong. Moreover, it was recognized as a part of Taiwan’s Regulatory Sandbox by the FSC (Financial Supervisory Commission).

About EMQ Inc.

Since its establishment in 2014, EMQ focuses on offering financial services such as payroll, remittance, procurement, merchant settlement, and e-commerce. The organization’s primary motive is to provide an efficient financial network ecosystem in order to offer affordable and transparent cross-border payment solutions that comply with relevant regulatory standards.

Source credits –

https://www.businesswire.com/news/home/20210104005876/en/EMQ-Expands-Global-Payment-Capabilities-into-South-Korea

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Zomato net loss triples to USD 46 million despite 75% jump in revenues

Zomato net loss triples to USD 46 million despite 75% jump in revenues

By Nikita Chaurasia

Indian food delivery giant Zomato Limited has reported a net loss worth USD 46 million in Q4 of FY2021-22 despite witnessing a 75% growth in revenue to USD 156 million as opposed to USD 89 million it earlier recorded during the fourth quarter of the ...

Facebook-owner Meta to share more data on political advertisements

Facebook-owner Meta to share more data on political advertisements

By Nikita Chaurasia

Facebook-parent Meta Platforms Inc has recently announced that it would provide additional data from its public ad database regarding the targeting decisions made by publishers running social and political-issue advertising. As a part of the expan...

Massachusetts finds first 2022 monkeypox case in the United States

Massachusetts finds first 2022 monkeypox case in the United States

By Nikita Chaurasia

The Massachusetts Department of Public Health has recently reported the first case of a rare infection called monkeypox in a man who recently visited Canada. According to Boston’s public department, the identified case is no threat to the pu...

Russia denies plans of blocking YouTube & cutting off from the internet

Russia denies plans of blocking YouTube & cutting off from the internet

By Nikita Chaurasia

The Digital Development Minister of Russia has reportedly stated that the country is not planning to block Google’s video streaming platform YouTube as such a move would affect its users and will therefore be avoided.  It is worth notin...

Indian food delivery giant Swiggy to buy Dineout from Times Internet

Indian food delivery giant Swiggy to buy Dineout from Times Internet

By Nikita Chaurasia

Swiggy, an Indian food delivery giant, has recently announced an agreement with Times Internet to buy Dineout, a dining and restaurant technology platform. Swiggy will use the acquisition to enter the dining out (non-delivery) market, where it will c...