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AMTD Digital to acquire Singapore-based digital payments company FOMO Pay

Monday 6 July 2020 14:37 CET | News

AMTD Digital is set to acquire a controlling stake in FOMO Pay, a Singapore-based digital payments company.

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.

The completion is subject to the approval of Monetary Authority of Singapore.

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Keywords: AMTD Digital, digital payments, FOMO Pay, acquisition
Categories: Banking & Fintech | Payments General
Countries: Singapore
This article is part of category

Banking & Fintech