Digital Payment Token Services Among Three New Licenses Granted to FOMO Pay

Digital Payment Token Services Among Three New Licenses Granted to FOMO Pay

by September 1, 2021
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FOMO Pay, a QR code payment solution provider in Singapore, has been granted new licenses from the Monetary Authority of Singapore (MAS) to operate three new regulated activities.

Starting today, merchants can now leverage on FOMO Pay services to accept and process payment transactions online and offline.

Additionally, FOMO Pay will be able to carry out local money transfer services in Singapore for its clients and facilitate transactions with digital payment tokens, including but not limited to cryptocurrency and the Central Bank Digital Currencies (CBDCs).

In addition to FOMO Pay’s prior Cross-border Money Transfer Service license, the company now holds four out of seven key regulated activities under the Payment Services Act’s (PSA) licensing framework.



Founded in 2015, FOMO Pay began as a Singapore FinTech company offering the flagship solution of helping online and offline merchants to connect to digital payment methods including e-wallets, credit cards and more.

Louis Liu, CEO and Founder of FOMO Pay

Louis Liu

Louis Liu, CEO and Founder of FOMO Pay said,

“Locally, it also reaffirms our commitment in Singapore’s pursuit towards a Smart Nation and Cashless Society through our constant innovation and development.

 

In addition, our company will continue to invest on the research and development of the blockchain technology and CBDC experiment, as we look towards implementing and contributing towards efficient payment systems for the next generation,”

 

Featured image: FOMO Pay 

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