M-DAQ Global, a Singapore-based fintech specialising in foreign exchange and cross-border payment solutions, has announced a strategic integration with METech, the majority shareholder of PayME, a licensed payments service provider in Vietnam. This move allows M-DAQ to establish its own regulated payments infrastructure in Vietnam, enabling direct processing of collections and payments in Vietnamese Dong (VND), thus reducing reliance on third-party partners.
The integration is part of M-DAQ’s broader strategy to create a unified ASEAN Payments Hub, enhancing its ability to provide efficient cross-border payment flows. By combining METech’s local market expertise and regulatory knowledge with M-DAQ’s regional infrastructure, the partnership aims to strengthen cross-border payment capabilities within ASEAN and beyond.
Vietnam, one of ASEAN’s fastest-growing economies, presents significant opportunities for cross-border commerce. The country’s digital economy is projected to reach $72.1b by 2025, accounting for over 14% of its GDP. The government aims to increase this to 30% by 2030. M-DAQ’s integration with METech positions it to tap into this growth, leveraging Vietnam’s expanding digital and e-commerce markets.
Tan Choon Seng, Group CEO of M-DAQ Global, stated, “Vietnam is one of ASEAN’s most dynamic growth markets and a key pillar for the region’s digital transformation. We are proud to mark M-DAQ’s first direct presence in the country through this integration, advancing our ASEAN-focused strategy.”
With this integration, M-DAQ now holds five regulated licences across four key ASEAN markets, furthering its ambition to build a comprehensive payments footprint across the region’s economic corridors.
