- Vattanac Bank, which is located in Cambodia and is now expanding, has announced a partnership with cross-border payments network EMQ.
- The new pairing will see the two firms work together to offer international money transfers that take place instantly, the firms said.
- “The speed and scale of EMQ’s global network allow us to deliver a more convenient, cost-effective and secure payment experience for our customers,” said a senior figure at the bank.
Vattanac Bank, a bank based in Cambodia, has confirmed a new pairing with an international cross-border payments network.
Vattanac Bank said that it had reached the partnership agreement with EMQ.
The new arrangement will see the two organisations offering instant international money transfers.
At present, the arrangement will focus in particular on the Asian market – though it is expected that this will expand in the future to cover more markets.
The arrangement will be powered by EMQ’s application programming interface-based payments service.
Payouts will be able to be received in a number of formats, including mobile wallets and bank accounts.
Cash pick-up will also be available as one method of receipt for those who wish to use cash.
In a statement, the chief executive officer of Vattanac Bank said that clients were placed at the heart of what the organisation does.
Chan Kok Choy explained that “prompt payout” was one of several key priorities for the organisation.
“Our customers are at the core of our business, and we are always looking for ways to improve our services that enable them to seamlessly transfer funds with prompt payout in local currencies to meet their needs,” he said.
He added that the scale of the network that EMQ has as its disposal will help when it comes to convenience and cost-effectiveness.
“The speed and scale of EMQ’s global network allow us to deliver a more convenient, cost-effective and secure payment experience for our customers,” he said.
He commented that the company was “excited” about the prospect of pairing up with EMQ.
“We are excited to partner with EMQ to expand our services in more markets beyond Cambodia.”
For EMQ, meanwhile, the co-founder and chief executive officer there said that simplification of payments was a long-term priority for the firm.
Max Liu explained that part of the company’s goal was to help firms make sure that they are running efficiently and that their working capital is being used in the best possible way.
“Simplifying cross-border payments for our customers has always been a key focus for EMQ as we continue to enhance our real-time payment capabilities that help businesses improve efficiency and optimize their working capital,” he said.
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