FOMO Pay partners with Banking Circle

Monday 6 December 2021 11:12 CET | News

Singapore-based FOMO Pay, a one-stop payment solution provider, has partnered with Luxembourg-headquartered licenced bank Banking Circle.

The partnership will allow for Collection on Behalf of (COBO) and Payment on Behalf of (POBO) services for FOMO Pay's corporate clients in APAC.

Banking Circle is a payments bank committed to building a local clearing network for all major currencies. It provides a suite of banking solutions including multi-currency banking accounts and Virtual IBANs, bank connections for local clearing and cross border payments, all underpinned by compliance and security.

Helped by Banking Circle's COBO and POBO capability, FOMO Pay's customers can have immediate and accurate identification of underlying payers and payees when processing international and domestic multi-currency B2B transactions, as the press release says.

More: Link

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Keywords: partnership, payment processing, Virtual IBAN, B2B payments
Categories: Banking & Fintech
Countries: Singapore
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Banking & Fintech

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