In today’s global landscape, most businesses can no longer avoid some form of cross-border trading. The increase in cross-border trade has inevitably forced SMEs to find solutions to send and receive payments in multiple currencies and adopt strategies to avoid unanticipated losses from FX movements.


Traditionally, businesses that wish to accept foreign currencies have to open multiple bank accounts. This is tedious, costly and makes for a poor cross-border payments experience. M-DAQ’s Magic CARPET eliminates this problem through a single-platform solution that benefits all parties.


With FX as an added variable, businesses can suffer losses from FX movements due to deferred payments – the delay between the valuing of their contracts and the completion of payments in foreign currencies. Without certainty in their foreign currency receivables and payables, businesses are unable to make accurate forecasts, which may result in cashflow difficulties. Due to the lack of knowledge or constitutional restrictions, SMEs typically do not use instruments such as Forwards and Options to manage their FX exposure. Hedging as a Service (HaaS) provides SMEs with the opportunity to say goodbye to uncertainty.


Business without Borders


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.


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™.


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

15 Playfair Road, Level 2
Singapore 367987
Tel: +65 6225 8991