The financial details of the transaction were not divulged. However, the transaction will involve a share swap and transfer of cash between the parties.
Founded in 2015, FOMO Pay operates as an integrated payment solution provider to the merchants in the region. It facilitates several payment methods such as NETSPay, mVisa, GrabPay and WeChat Pay.
The acquisition will support AMTD Digital’s strategic expansion in Southeast Asia. Once the acquisition is complete, FOMO Pay will become a member company within AMTD Digital.
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