Under the partnership, Malaysia merchants can collect payments from Singapore customers on PayNow via direct QR code payments through OCBC OneCollect. Prior to this, QR code payments in Malaysia could only be done for local ringgit currency transactions.
Fomo's decision to open an office in Kuala Lumpur ties in with the company's expansion strategy to focus on Southeast Asia and other emerging economies, which are undergoing rapid digital transformation, it said.
Fomo Pay has made its first overseas foray into Malaysia, and has partnered OCBC Bank (Malaysia) to develop the country's first merchant cross-border QR code collection service, the Singapore-based firm announced on its blog.
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