Cambodia-based microfinance institution AMK has entered into a partnership with EMQ to facilitate cross-border money transfer across Southeast Asia.
The partnership integrates AMK with EMQ’s global financial settlement network to enable fund transfers in real time.
Customers in Cambodia can also avail other payout options such as instant cash pickup, deposits to the partnered banks and into a mobile wallet.
The collaboration will also enable the users to home deliver cash to any place across Southeast Asia.
EMQ co-founder and CEO Max Liu said: “Remittances provide a lifeline for millions of households in developing countries especially in Southeast Asia, where EMQ has a long standing commitment in providing affordable, secure and reliable cross-border money transfers to the communities in the region.
“By connecting AMK directly to our global network, we are offering our customers the best possible choices and flexibility to send money home effortlessly within minutes.”
AMK CEO Kea Borann said: “At AMK, we are committed to provide every customer with secure, fast and convenient access to financial services across Asia, where EMQ has a strong footprint with the widest payout options.
“Our partnership with EMQ marks an important milestone in our next phase of growth as we continue to expand our presence across the world’s top recipient-receiving countries to best serve our customers’ needs.”
The EMQ network is designed to settle cross-border movement of funds. The infrastructure can be used by industries to enable several services including remittances, e-commerce payments and payroll among others.
In May, the company launched a new enterprise payment solution for businesses with same day settlement capabilities.