FOMO Pay becomes direct acquirer for UnionPay International

SINGAPORE, May 11, 2022 /PRNewswire/ -- FOMO Pay, a Singapore-headquartered leading one-stop digital payment and digital banking solution provider, has deepened its partnership with UnionPay, one of the world's largest payment networks. As a new global member of UnionPay, FOMO Pay now can enable businesses to accept payments from billions of UnionPay Cardholders globally.

FOMO Pay is a Major Payment Institution licensed by the Monetary Authority of Singapore (MAS). Founded in 2015, the company is the first of its kind, providing a robust and comprehensive suite of digital payment solutions for merchant, corporate and financial institution clients, including but not limited to e-wallets, credit cards and buy now pay later (BNPL). As a leading digital payment gateway solution provider, FOMO Pay's solution has been trusted by over 5,000 clients.

UnionPay International is a subsidiary of China UnionPay focused on the growth and support of UnionPay's global business. The company provides high quality, cost effective and secure cross-border payment services to the world's largest Cardholder base and ensures convenient local services to a growing number of global UnionPay Cardholders and merchants. Over 180 million cards have been issued in more than 70 markets outside the Chinese mainland and more than 130 UnionPay-powered e-wallet have been implemented, as UnionPay extends its global reach.

FOMO Pay's partnership with UnionPay International complements its existing payment suite, making FOMO Pay the top solution for businesses to better connect with a wider range of global customers. With the integration of UnionPay, FOMO Pay's clients now are able to conveniently and easily facilitate transactions in Chinese Yuan and multiple global currencies, securely and seamlessly accept payments from UnionPay Cardholders.

"FOMO Pay is pleased to collaborate with UnionPay International. This partnership will widen access to the global market for our merchants, as now they can confidently serve billions of UnionPay cardholders with their preferred payment methods. We are glad to see that integrating UnionPay into our one-stop payment solution increases opportunities for businesses to stand out in cross-border trade." said Louis Liu, Founder and Chief Executive Officer, FOMO Pay.

About FOMO Pay

FOMO Pay Pte Ltd is a major payment institution (License No. PS20200145) in Singapore, licensed by the Monetary Authority of Singapore. Founded in 2015, we have become a leading one stop digital payment and banking solution provider. Acceptance of digital payments has increased dramatically as governments around the region push an agenda for creating a cashless society and fostering financial inclusion.

FOMO Pay has enabled merchants and financial institutions to accept a comprehensive suite of payment methods in emerging markets across Asia and Africa. Our partners include NETS, Mastercard, GrabPay, Singtel Dash, WeChat Pay, Shopee Pay, etc. FOMO Pay was also one of the founding members of the Singapore Quick Response Code (SGQR) taskforce and contributed to the introduction of the SGQR – a national standard to unify all e-wallets and move towards promoting a cashless society in Singapore.