Singapore's fintech firm M-DAQ Global has acquired Easy Pay Transfers, a Malaysia-based B2B payments service provider. This step targets the company's expansion in the ASEAN region. The acquisition focuses on M-DAQ Global's operations in local payments and cross-border fintech solutions.

M-DAQ Global Expands Its Footprint

M-DAQ Global, headquartered in Singapore, announced the acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of Easy Pay Transfers on July 31, 2024. Easy Pay Transfers offers businesses online payment services.

By integrating Easy Pay Transfers, the company aims to create synergy with its existing B2B solutions and enhance local payment capabilities in Malaysia. The collaboration also seeks to expand its expertise in foreign exchange and cross-border transactions.

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."

M-DAQ's Other Acquisitions

The move followed M-DAQ Global's acquisition of Wallex, a cross-border payments provider with a presence in Singapore, Indonesia, and Hong Kong. According to the fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term firm, the addition of Easy Pay Transfers is an important step in M-DAQ Global's plan to enhance payment services and operate under a new entity named M-DAQ Malaysia.

With this acquisition, M-DAQ Global, licensed under Malaysia's Money Services Business Act 2011, now operates in seven countries and territories and serves nearly 39,000 clients globally. In 2022, M-DAQ acquired Wallex, a cross-border payment company with licenses in Hong Kong, Indonesia and Singapore. Wallex also has a presence in the Asian region.

The company cited a rising demand for cross-border payments, which has reportedly significantly increased in the past few years. M-DAQ’s flagship FX solution, Aladdin, disclosed that it had since cleared billions of dollars worth of cross-border transactions.