Wallet without Borders™
With the growth of digital e-Wallet payments and tourism around the world, M-DAQ has developed a cross-border payment solution aimed at helping e-wallet operators enable their users to pay merchants in other countries seamlessly.
High acquisition costs
Significant resources are required to acquire a new merchant – this includes setup, training and deployment – not easily scalable in the long run.
Complex regulatory requirements surrounding cross-border payments and money transfer poses a major challenge for launching an overseas e-Wallet operation.
Wallet integrations require major development work involving both front-end and back-end systems of each e-Wallet operator, requiring many months to complete.
FLIQ was born out of a vision to break down technological and physical borders to create Wallets without Borders, enabling local e-Wallets to be used to pay merchants in any other country when users travel overseas. It offers substantial benefits to e-Wallet operators in the following ways:
- Fliq eliminates the costs of acquiring merchants in another country and the costs associated with complying to government regulations, while creating new revenue streams
- Through Fliq, e-Wallet operators provide added convenience to their customers when traveling, even guaranteeing FX rates for refund purposes
- Merchants can accept payments from customers’ oversea e-Wallets without worrying about initial setup and operational costs
- New use-cases such as cross-border loyalty & rewards, transit and lifestyle services can be added on seamlessly
Using M-DAQ FLIQ solution, e-wallet operators can now:
Enlarge merchant base by leveraging overseas e-Wallet operators on FLIQ
Overcome regulatory barriers to receive new revenue sources from overseas merchants