M-DAQ Global Strategically Integrates with Vietnam's Payment Service Provider, Expanding in ASEAN
Fintech company M-DAQ Global has formed a strategic integration with Vietnam's payment service provider METech to establish a unified ASEAN payment hub. This move will optimize cross-border payments, foreign exchange conversions, and settlement processes, supporting the growth of cross-border e-commerce trade in the region.
What are the key facts?
- 1Acquisition/Integration target: METech (Vietnam payment service provider and main shareholder of PayME)
- 2Goal: Establish a unified ASEAN payment hub
- 3Vietnam's B2C e-commerce market forecast: $13.39 billion by 2031
What happened?
On July 7, M-DAQ Global announced a strategic merger agreement with METech, the parent company of Vietnam's largest payment service PayME. This partnership aims to integrate Vietnam's local payment infrastructure with a regional payment network, providing comprehensive solutions including foreign exchange conversion and cross-border payments to support Vietnam and the ASEAN region's rapidly growing e-commerce market.
What does this mean for cross-border sellers?
The enhancement of payment infrastructure will reduce sellers' funding settlement costs in the Southeast Asian market, increasing cross-border transaction efficiency.