Partnership enables VBCE with fast, secure and cost-effective cross-border solutions across the rapidly growing global payments ecosystem
VANCOUVER, British Columbia & HONG KONG–(BUSINESS WIRE)–Vancouver Bullion & Currency Exchange (VBCE), a leading foreign exchange and payment services provider in Canada, has partnered with global financial settlement network EMQ, to provide near real-time cross-border payments and a broader international reach for businesses and consumers in Canada. By integrating with EMQ’s extensive global network, VBCE’s customers can have instant access to fast, secure and cost-effective cross-border solutions across Asia and Europe, with more markets underway in upcoming months.
“With the increasing trend of an always-on digital economy, our customers are looking for services that empower them to transfer money near real-time from anywhere, flexibly and efficiently. The speed and reach of EMQ’s global network allows us to pilot new services in one market and scale them rapidly across others to meet the evolving customer needs. This is especially important for our business with a diverse product portfolio,” said Kevin Ma, Vice President, Business Development, VBCE. “We look forward to further expanding our partnership with EMQ as we continue to innovate and deliver comprehensive financial services in Canada and beyond.”
Powered by EMQ’s cross-border settlement network and VBCE’s diverse financial service capabilities, businesses and consumers in Canada can now send money seamlessly to their recipients and enjoy a wide range of pay-out options across Europe and major markets in Asia including China, Japan and India. Through a single integration with EMQ’s Connect API, VBCE can access EMQ’s full suite of cross-border capabilities, combining competitive pricing, wholesale FX management and real-time AML screening. This enables VBCE to focus on delivering enhanced customer propositions to grow their business without the need to manage complex network infrastructure.
“Digital transformation is driving rapid change in customer expectations across the payments ecosystem, which requires a more flexible and high performance network infrastructure like EMQ to deliver speed, certainty and a consistent international payments experience,” said Max Liu, co-founder and CEO of EMQ. “With customers at the heart of our business, we are constantly optimizing our network with real-time service levels to address their needs in this fast-changing landscape. We are delighted to partner with VBCE to expand its digital and customer capabilities across our global network.”
With a network footprint touching billions of people, EMQ’s network spans over 80 key global markets throughout Asia Pacific, Africa, Europe and North America. EMQ currently offers in minutes cross-border payments across China, Singapore, Korea, India, Indonesia, Cambodia, Vietnam, Nepal, Philippines, the United Kingdom, and 19 markets in Africa, with more markets underway for real-time capabilities. The company is currently licensed in Hong Kong, Singapore, Indonesia and registered as a Money Service Business in Canada. EMQ was also accepted into Taiwan’s Regulatory Sandbox by the Financial Supervisory Commission in Taiwan.
Vancouver Bullion & Currency Exchange (VBCE) is the leading private foreign exchange company in Western Canada. We have been in business since 1989, for over thirty years and handle over three billion dollars in transactions a year. Our favorable and competitive exchange rates are better than those of many other foreign exchange providers and we are credited with saving our customers millions of dollars a year.
EMQ operates a global financial settlement network that provides a faster, more affordable and transparent cross-border settlement solution for businesses around the world, while adhering to complex regulations and compliance standards in different markets. Our flexible network infrastructure has been built to effectively settle any cross-border movement of capital and can be deployed across multiple vertical industries for a broad range of services, including e-commerce, merchant settlement, procurement, remittance, payroll, etc.
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