EMQ goes behind the scenes to stand out in world of remittance

Singapore

IN the increasingly crowded space of remittance, one startup has decided not to have a direct interface with the customer.

Instead, Hong Kong-based EMQ is steadily building cross-border networks for business clients to simply tap on. The network connects local banks which the startup firm partners - one for each market - with several endpoints such as mobile wallet operators, banks and cash pick-up points it is putting in place.

"Customer acquisition costs continue to rise and customer retention, especially for remittance focused apps, remains a challenge. EMQ positions itself as the financial backbone infrastructure that behind-the-scenes increasingly can settle any kind of cross-border movement of capita…