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EP28 Jason Tay - M-DAQ - Heads you win, tails you don't lose
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"Foreign exchange will always be here to stay"
Jason Tay, the Regional Director of Business Development at M-DAQ, talks to us about how M-DAQ uses data and algorithms to allow merchants around the world to sell goods in foreign currencies and not lose out when the FX rate changes.
M-DAQ is creating the world without currency borders. The 11-year old fintech company is the first startup to be funded by Affinity Equity Partners who joined other notable investors, including Ant Group and Samsung.
M-DAQ is the FX solution that powers leading e-commerce platforms and stock markets around the world. With increasing cross-border e-commerce trades, sellers are forced to quote prices in foreign currency. The problem is you don’t know when the product will sell, hence, the FX risk falls on the sellers. Sellers markup a lot more than usual and the ultimate losers are the consumers.
Wouldn’t it be better if the platform takes care of that and ensures sellers’ bottom line is fixed? That is what M-DAQ does. It gives power back to consumers by giving power to sellers.
We talked all about foreign exchange amidst the cross-border world and more at #frontierfintechpodcast:
*How M-DAQ helps sellers sell goods in foreign currency
*How buyers can get refunds at the same rate after 3 months of purchase
*How M-DAQ does this at ⅙ of the banks with 3 months’ guarantee
*The role of FX and e-commerce
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