Mumbai, India – Global payments network EMQ has launched its real-time cross-border payments across South Asia, including direct access to Nepal and India’s Immediate Payment Service (IMPS), with Unified Payments Interface (UPI) and additional markets in the pipeline.
The enhanced payment capabilities to Nepal and India provide a more transparent and cost-efficient payments solution for its customers in the region, while enabling them to capture new opportunities across the emerging markets. Moreover, customers can now send a maximum of INR500,000, which has increased from INR200,000, directly into local banks in real-time under IMPS and higher amounts via same-day fund transfers to India through a single EMQ Connect API integration.
Meanwhile, customers in Nepal will also have direct access to real-time bank transfers of up to NPR1m with additional same-day payment options available in the country. These extended service offerings enable enterprises to focus on growing their business without the need to manage complex network infrastructure.
Steven Liu, EMQ’s global head of networks and expansion, shared that they will continue to expand their network with more global market touchpoints across the fastest growing economic corridors.
EMQ said that it continues to expand its product suite with real-time payments capabilities across Europe (Sepa Zone), Hong Kong, China, Thailand, Singapore, India, and Indonesia, as well as Nepal, and 19 markets in Africa, amongst many others, with expansion underway in the USA, Canada, and Latin America.
“Our enhanced coverage across Nepal and India further complement our efforts to offer differentiated value propositions with greater speed, agility and flexibility in both consumer and business payments that meet the evolving business models,” said Liu.