Malaysian payment firm Easy Pay Transfers acquired by Singapore’s M-DAQ Global
The fintech company M-DAQ Global Pte. Ltd., with its headquarters in Singapore, said on Wednesday that it has successfully acquired Easy Pay Transfers Sdn. Bhd., a licensed provider of business-to-business (B2B) payments services.
According to a statement from M-DAQ Global, this move will strengthen the company’s core competencies in cross-border fintech solutions and expand its expanding footprint in ASEAN.
Easy Pay Transfers offers businesses an online payments service that is both transparent and convenient, having been granted a license under the Money Services Business Act 2011 in Malaysia.
Through this acquisition, M-DAQ Global’s local payments capabilities in Malaysia will be strengthened, resulting in synergy with its current suite of B2B solutions for cross-border and foreign exchange payments.
With the goal of enabling smooth cross-border transactions across regional currency corridors, M-DAQ Global is expanding its customer and supplier channels throughout the Asia Pacific region.
The acquisition of Wallex, a B2B cross-border payments provider with a sizable presence in Singapore, Indonesia, and Hong Kong, by M-DAQ Global in 2022 represents a significant advancement in the company’s global growth plan to expand value throughout the payments value chain.
As a group, Easy Pay Transfers will enable M-DAQ Global to conduct business in Malaysia under a legal name that will likely be changed to MDAQ Malaysia Sdn. Bhd.
“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,” said Richard Koh, Founder and Group Chief Executive Officer of M-DAQ Global.
The partnership between Easy Pay Transfers and M-DAQ Global, according to company founder and CEO Jared Ang, represents their shared goal of growing their market share throughout Southeast Asia and promoting easier business transactions.
“We are thrilled to embark on this growth journey and aspire to be one of the leaders in FX and payment solutions,” he added.
Following this acquisition, M-DAQ Global is now operating in seven nations and territories, providing services to nearly 39,000 clients worldwide.
