Payments network EMQ has expanded its multi-currency business-to-business (B2B) payment offerings to China in a bid to offer its global enterprise customers direct access to the country’s market.
EMQ customers can now opt for same-day settlement in RMB and USD across the company’s payout network spanning across 150 Chinese banks.
The company’s global payments network allows enterprises to develop solutions that can reach several payment endpoints around the world through a single integration.
The EMQ Connect API is said to enhance the speed and cost of international payments by enabling users to pay directly in RMB and USD with same-day payment options.
Commenting on the development, EMQ Global head of Networks and Expansion Steven Liu said: “China continues to be a significant growth market for our enterprise customers, and EMQ’s payment network plays an important role in supporting their international trade requirements, ensuring efficient and timely cross-border payments.
“Our enhanced B2B solution will help businesses reach more customers and empower them to make seamless multi-currency payments globally.”
Liu also added that the company is preparing to expand its China B2B offerings with the addition of more currencies and enhancements in the coming months.
EMQ has been scaling up its network infrastructure and product portfolio through the expansion of its payments capabilities across Hong Kong, Thailand, Singapore, South Korea, China, India, Nepal, Cambodia, Vietnam, Indonesia, Philippines, Europe, the UK, as well as in 19 African markets.
The company is also currently expanding its presence in the US, Canada, and Latin America.
EMQ is currently licensed in Singapore, Hong Kong, and Indonesia. It is registered as a Money Service Business in Canada.