Wallex Cross-Border Payments & FX

Wallex is a cross-border payments and foreign exchange platform for businesses in Asia, operated by M-DAQ Payment Solutions Pte. Ltd. and presented as the cross-border payments brand of M-DAQ Global. The operating entity holds a Monetary Authority of Singapore licence and the site offers regional versions for Singapore, Indonesia, Hong Kong and Malaysia.

The platform combines Global Payment (including bulk payouts to up to 200 beneficiaries), International Collection through local virtual accounts, a multi-currency wallet, FX conversion and a Wallex API. Payments are tracked via SWIFT gpi and the company states it serves more than 35,000 customers.

• Global Payment: cross-border and bulk payments to up to 200 beneficiaries.
• International Collection: local virtual accounts for receiving funds in the US, UK, Europe, Singapore and Indonesia.
• Multi-currency wallet: holds 13 currencies for later payouts.
• FX conversion: customisable rates across about 48 currencies.
• Cash management: interest on wallet balances advertised at up to 2.5% p.a.
• Wallex API: remittance processing and customer screening for platforms.

A Vietnamese exporter can open virtual accounts to receive USD or EUR payments from overseas buyers. A trading company can pay several foreign suppliers in one bulk run. A marketplace can embed the Wallex API to pay out regional sellers.

Businesses can pay suppliers in 47 currencies and collect in 35 or more currencies from one account. Bulk payments reduce manual work, SWIFT gpi tracking gives visibility on each transfer, and local collection accounts avoid some cross-border fees. The company markets fees as better than banks, with no minimum commitment.

SMEs in Southeast Asia trade across currencies and need faster, cheaper alternatives to bank wires. Platforms that bundle FX, local collection accounts and API access are being adopted by exporters, marketplaces and logistics firms in the region, including Vietnam, which the platform lists as a supported VND transaction market.

Operated by M-DAQ Payment Solutions Pte. Ltd. (rebranded from Wallex Technologies in 2024-03 after the 2022 acquisition by M-DAQ). MAS licence PS20200433. Regulated in Singapore, Indonesia, Hong Kong and Malaysia.