NEW YORK, NY and Australia, Feb. 11, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — Sino United Worldwide Consolidated Ltd. (OTC: SUIC) has formed a 70:30 fintech company with QQ Pay Australia, named SUIC QQPay USA Inc. based in New York. SUIC owns 70% and QQ Pay Australia owns 30%.
SUIC QQ Pay USA Inc. will drive innovation and foster venture capital investments to transform the financial services and technology in the US payments market, primarily the Peer to Peer (“P2P”), Business to Consumer (“B2C”), and Business to Business (“B2B”) market segments.
“The current global cross border payments market is estimated at USD680 billion and expected to surpass USD930 billion by year 2026,” Allied Market Research reports.
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. Now via SUIC QQ Pay USA Inc., QQ Pay Pty Ltd has its arms further expanded into the US Market, which has 20% of the world’s market capitalization of cross border payments, estimated annually above USD135 billion.
With the passion to expand as a leading global fintech company and carrying the flag of its proprietary QQ Pay payment platform, QQ Pay has expanded its physical presence into other countries, namely, Canada, New Zealand, Singapore, and Malaysia within a span of less than 12 months. Maninder Bhullar, the CEO of QQ Pay had indicated that this is the first phase of the company’s expansion plan and discussions are ongoing with new strategic partners in other countries who wish and are excited to join the journey of digitalizing cross border services using the latest technology and financial tools.
The Fintech market has reported immense growth during the Covid-19 pandemic, especially the fintech-powered digital financial services, and it drastically altered the e-commerce and digital payments landscape. More companies changed their business models and conducted more transactions online, which highlighted the increasing necessity for enhanced fraud or security measures to secure online payments. Countries are now intensifying their expansion strategies to include fintech payment infrastructure and facilitate wider e-commerce adoption that instantaneously reconciles global payments posted in real-time. This shift is expected to bring about higher economic growth and greater cross border reach.
In addition, he added that SUIC QQ Pay USA’s proprietary digital payment platform enables the customers to access a range of financial transactions via online portal or mobile app. SUIC QQ Pay USA’s fintech innovations effectively reduce the transaction costs of these services. This platform conforms to international payment standards and high level of security features essential to protect data integrity and confidentiality. For further information about the company, please visit www.qqpay.com.au
About Sino United Worldwide Consolidated Company
The Sino United Worldwide Consolidated Company 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
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Sino United Worldwide Consolidated Ltd.
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