- EMQ, which is a major international payments network, has announced that it will be offering instant payments in Pakistan.
- The move is part of the firm’s push to expand further into the South Asian market for payments – and the new technology will be powered by an application programming interface.
- “Customers are at the center of our strategy and we are pleased to deliver real-time payments to Pakistan, while contributing to the inclusive growth and sustainability in South Asia,” said a senior spokesperson for the firm.
EMQ, a leading international payments network, has announced that it has launched real-time payments in a major Asian country.
EMQ said that it had made the move in Pakistan, with a view to enhancing cross-border payments in the South Asia region.
The move will mean that clients around the world will now be able to make instant payments to a range of money transfer destination points based in Pakistan.
These will include cash pick-up for those who want to handle physical money.
Mobile wallets will also be accepted, as will transfers to bank accounts.
The company intends to power this new development through the use of an application programming interface called EMQ Connect.
This is expected to enhance the level of seamlessness that the company’s customers can enjoy.
In a statement, a senior leader at the company emphasised the fact that the online money transfer sector is an essential one when it comes to growth in South Asia.
Steven Liu, who serves as the global head of networks and expansion at EMQ, said that this was in the face of such high costs.
“In South Asia, remittances play a vital role in contributing to the region’s economic growth and yet the cost of sending money remains high,” he said.
He went on to say that the company was working to “bridge the gap” when it comes to offering up access to cost-effective and safe financial tools around the world.
“As we continue to enhance our real-time payments capabilities across the emerging markets including Pakistan, India and Nepal, we bridge the gap in providing increased access to secure, convenient and affordable financial services to our senders worldwide,” he explained.
He also touched on the fact that customers are at the heart of the company’s strategic aims and goals.
“Customers are at the center of our strategy and we are pleased to deliver real-time payments to Pakistan, while contributing to the inclusive growth and sustainability in South Asia,” he said.
The move reflects part of a wider pattern of significant expansion for EMQ.
The company now operates in a whole host of environments, including the European SEPA zone as well as Singapore, Thailand, Cambodia, and many others.
It is also planning pushes into markets such as Latin America and the US.
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