KUALA LUMPUR: Singapore-based M-DAQ Global Pte Ltd has acquired Easy Pay Transfers Sdn Bhd, a licensed B2B payments service provider to strengthen its operations in Malaysia.
This acquisition follows M-DAQ Global's 2022 acquisition of Wallex, a B2B cross-border payments provider with a strong presence in Singapore, Indonesia, and Hong Kong.
It marks the next significant step in M-DAQ Global's global growth strategy to enhance value across the payment value chain.
M-DAQ Global said in a statement that this move will enhance its core capabilities in cross-border fintech solutions and expand its presence in ASEAN.
The acquisition will also create synergy with its existing suite of B2B solutions for foreign exchange and cross-border payments via the new set up, M-DAQ Malaysia Sdn Bhd.
Easy Pay Transfers, licensed under the Money Services Business Act 2011 in Malaysia, offers businesses a convenient and transparent online payment service.
Richard Koh, founder and group chief executive officer (CEO) of M-DAQ Global, said that expanding the company's ecosystem to support cross-border transactions is a key strategy as the business scales.
"Malaysia is a significant ASEAN market, and we are excited to welcome Easy Pay Transfers into M-DAQ Global to leverage the expertise of both parties as we build up our capabilities in the region to deliver greater value for businesses," he said.
Jared Ang, founder and CEO of Easy Pay Transfers, noted that the alliance with M-DAQ Global will help expand its market reach across Southeast Asia.