Online Merchants

Many online merchants have an international customer base, yet both shoppers and merchants prefer to make and receive payments in their own local currency. To satisfy shoppers, merchants resort to collecting foreign currencies, then repatriating the funds back home, resorting themselves to additional processing fees. This is on top of what online merchants also pay credit card companies to facilitate payment, incurring Merchant Discount Rate (MDR) on each transaction.

 

Business without Borders

Magic CARPET

Make payments over, sideways, and under using M-DAQ’s Magic CARPET - Multi-currency Cross-border Account for Remittance, Payment, E-commerce and Treasury. The Magic CARPET platform facilitates cross-border payments and collections for businesses all around the world.

CURRENT SITUATION

Difficult to collect and repatriate foreign currencies

Businesses that have overseas exposure face difficulties making and receiving payments in many different currencies.

Cross-border payments is expensive

Telegraphic transfer (TT) to facilitate cross-border payment incurs expensive charges on top of unfavorable FX rates.

Lack of access to Value-Added-Services

Many Value-Added-Services are tailored for large enterprises and are not offered to SMEs.

With Magic CARPET, Businesses make and receive payments seamlessly on a single platform without having to operate multiple bank accounts. Leveraging on M-DAQ’s disruptive FX technology, Magic CARPET clients enjoy the best FX conversion rates. Using the same platform, businesses can also access value-added services aimed at optimizing current processes, improving analytics and reducing business risks. Now businesses can sell global and collect local, and do Business Without Borders™.

Magic CARPET

Hassle free collection of foreign currencies

Leveraged on M-DAQ powered Multi-currency Cross-border Account to collect your foreign currencies without going through the hassle of setting up bank accounts in different countries.

Upfront transparent FX

Know the conversion rate upfront with our disruptive FX Technology. Convert at the rate that you like and know the converted amount before committing.

Make payment at fractional cost

Enjoy low and transparent payment fees when you make same currency payment or cross-border payment.

Track your payment from end-to-end

Gain real-time visibility of your payment from the moment you sent it to the point your beneficiary account is credited.

Send batch payments in 1-click

Make batch payment via our simple to use Magic CARPET Web Interface in 1-click and track the status of your payments.

How it Works
How Magic CARPET supports Online Sellers

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