EMQ, a Hong Kong-based financial technology start-up, has entered into a strategic partnership with mobile payment and big data technology company QFPay to enable merchant settlement across Indonesia.
The new merchant settlement platform, powered by EMQ’s scalable API, is designed for businesses, enabling consistent settlement process.
The platform delivers a secure and scalable infrastructure for mobile payments in the country and provides benefits in efficiency and speed after integration to mobile payments globally.
EMQ co-founder and CEO Max Liu said: “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. 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 partnership with QFPay is a great validation that our extensive settlement network provides a critical gateway that connects businesses. We are pleased to partner and support QFPay with its expansion across Asia.”
QFPay co-founder and president Patrick Ngan said: “This is an exciting milestone in our partnership with EMQ as we continue our strategic expansion across Asia. 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.
“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. We look forward to further expanding our partnership with EMQ across Asia.”
EMQ is currently operational in Hong Kong, Taiwan, Indonesia, Vietnam and the Philippines. It plans to expand across other business markets first in Asia and then globally, covering North America, Europe and the Middle East.