NEW YORK, NY and SYDNEY, AUSTRALIA / ACCESSWIRE / June 29, 2021 / SUIC QQPay USA Inc., a rising fintech startup based in New York and led by Sino United Worldwide Consolidated Ltd. (OTC:SUIC) and QQ Pay Pty Ltd., Australia, is set to launch QQ Fintech Payment Platform, its Shari'a-compliant non-bank cross border payment platform supported by its proprietary fintech programs and solutions.
SUIC QQPay USA Inc. collaborates with QQ Fintech Pte Ltd. of Singapore to lead the group's expansion plans with unique value proposition in penetrating the cross-border payment space. This designated payment platform is a mature and fully-fledged ecosystem that culminates in the creation of Shari'a- compliant fintech services, bringing innovation into Islamic capital markets and Takaful payment experiences.
Co-Founder and the group CEO, Maninder Bhullar, highlighted that "QQ Fintech is launching the world's first Shari'a compliant non-bank cross border payment platform by July this year and is well poised to take on a sizeable market share in the global halal economy arena."
Strategically located in Australia, Canada, USA, Singapore, and Malaysia, SUIC QQPay USA Inc. and partner QQ Fintech Pte Ltd. designed a unified fintech payment platform to serve the global halal economy which is estimated to grow to $3 trillion by 2024 at a cumulative annual growth rate (CAGR) of 3.1 percent, as more opportunities arise in terms of tokenization of sukuks (Islamic bonds) within Islamic fintech, supply chain shifts, food security investments, nutraceutical demand, domestic tourism, and accelerated digital transformations. Source: State of the Global Islamic Economy Report 2020/2021 https://www.icricinternational.org/state-of-the-global-islamic-economy-2020-21-report-is-published/
QQ Fintech will launch a consistent payment system and solutions suited to the differing policies and infrastructure involved in moving value from financial institutions to the end beneficiaries, country to country, as much of the global consumers remain unbanked and do not easily have access to Shari'a based financial services. The platform will be an alternative to the existing Shari'a banks that have monopolized the market and customers now have a choice to leverage on fintech solutions and innovation adopted for the Shari'a market segment.
Faizel Ismail, Co-Founder and the Chief Expansion Officer of QQ Fintech, stated, "SUIC QQPay USA Inc stands a very good chance in making inroads to a niche SME market segment that previously had no choice. By adhering to Shari'a principles, the company is going to set standards for rolling out the novel concept of "Shariatization" of an economy segment where growth of digital financial services would exclusively cater to millions of Muslims around the world. Financial services are further being innovated from the ground level by leveraging modern technology with core traditional values kept intact to serve this market segment."
QQ Fintech offers multiple locations to reach more Muslim consumers across the globe that can narrow the significant gap in the halal economy among the under-represented Muslim SME's and financial service providers. In addition, Islamic social finance (Zakat, Sadaqah, and Waqf) can utilize our fast and convenient, safe and secure platforms to contribute towards poverty alleviation in their regions. This will create greater cross-border interoperability among its local operating networks, even in far-flung rural areas, and at the same time to override a complicated web of legacy systems by adopting blockchain.
About QQ Pay Pty Ltd., Australia
QQ Pay Pty Ltd is incorporated in Australia and has attained the independent remittance dealer registration with Australian Transaction Reports and Analysis Centre, AUSTRAC that allows it to perform cross border transactions in Australia with the rest of the world. With the passion to expand as a leading global company and carrying the flag of its proprietary QQ Pay payment platform, QQ Pay Pty Ltd. operates in Canada, New Zealand, Singapore, Malaysia.
For further information, please visit www.qqpay.com.au
About QQ Fintech Pte. Ltd., Singapore
QQ Fintech Pte Ltd. is focused in Fintech and technology driven services mainly by innovating traditional financial services where digitalization gaps still vastly exist. QQ Fintech has a clear vision to enable better and efficient financial services for the financial delivery system. For any queries or further information you may email them at info@qqpay.com.au
About Sino United Worldwide Consolidated Ltd., USA
The Sino United Worldwide Consolidated Ltd. provides research and development, venture financing for and investing in private enterprises and the public sector that develop products and services adopting core capabilities of the Internet of Things, cloud computing, mobile payment, Big Data, Blockchain, and Artificial Intelligence, to enhance and streamline existing processes, and establish new and exciting business models that will create revolutionary products and services. Shareholders of SUIC will be exposed to the diverse application of advanced services in various parts of the economy. Additionally, existing and potential customers can benefit from this company's diversified portfolio of technologies. As one of the pioneering publicly traded technology companies, SUIC will help build tech-enabled businesses of the future. To learn more, please visit www.sinounitedco.com.
Forward-Looking Statement
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Contacts
Sino United Worldwide Consolidated Ltd.
New Release Department
929-391-2550
SOURCE: Sino United Worldwide Consolidated Ltd.
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