M-DAQ Global, a fintech company based in Singapore, has acquired Easy Pay Transfers, a B2B payments service provider based in Malaysia. The company’s expansion into the ASEAN region is the goal of this stage.
The acquisition is concentrated on M-DAQ Global’s cross-border fintech solutions and local payments business.
M-DAQ Global, a Singaporean company, stated that it will be acquiring Easy Pay Transfers. Online payment services are provided to businesses by Easy Pay Transfers.
The company hopes to improve local payment capabilities in Malaysia and establish synergy with its current B2B products by incorporating Easy Pay Transfers. The partnership also aims to increase its proficiency in cross-border and foreign exchange operations.
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Speaking about the acquisition, Richard Koh, the Founder and Group CEO of M-DAQ Global, said: “Expanding our ecosystem to better support cross-border transactions is one of our core strategies as we scale up as a business.” Malaysia is a significant ASEAN market, and we are excited to welcome Easy Pay Transfers into M-DAQ Global to leverage the expertise of both parties as we build up our capabilities in the region to deliver greater value for businesses.”
The action came after Wallex, a cross-border payments company with locations in Singapore, Indonesia, and Hong Kong, was acquired by M-DAQ Global. With Easy Pay Transfers as part of the Group, M-DAQ Global will operate in Malaysia under a legal entity that is contemplated to be renamed as MDAQ Malaysia Sdn. Bhd. Easy Pay Transfers is licensed under the Money Services Business Act 2011 in Malaysia.
This acquisition expands M-DAQ Global’s operations to seven countries and territories, serving about 39,000 clients worldwide. M-DAQ Global was granted a license under the Money Services Business Act 2011 of Malaysia.
M-DAQ purchased Wallex in 2022; Wallex is a cross-border payment corporation that holds licenses in Singapore, Indonesia, and Hong Kong. Wallex operates in the Asian region as well.
The growing need for cross-border payments, which has apparently expanded dramatically in recent years, was noted by the corporation. Aladdin, the premier FX solution from M-DAQ, revealed that it had subsequently processed cross-border transactions valued at billions of dollars.
About M-DAQ
M-DAQ is a financial technology company based in Singapore that uses data to give clarity and assurance on foreign exchange for businesses and individuals conducting cross-border transactions.
About Easy Pay Transfer
Easy Pay Transfers offers businesses a more convenient and transparent internet remittance service. Their financial technology allows them to offer bank-beating rates faster, saving Malaysian businesses money and bother.
