FOMO Pay, a leading Singapore-based major payment institution, has announced the addition of AED (United Arab Emirates Dirham) currency to its global collection and global payout solution. This addition enables merchants, corporates, and institutions to collect and pay in AED under their names using local UAE payment rails, enhancing FOMO Pay’s multi-currency virtual account and streamlining cross-border transactions.
The introduction of AED currency support is a strategic step in strengthening FOMO Pay’s global payment infrastructure. With this update, FOMO Pay now supports collection-on-behalf-of (COBO) and payment-on-behalf-of (POBO) transactions in AED, serving businesses across the Middle East and North Africa (MENA) region, and those transacting with MENA-based partners. This expansion allows businesses to settle transactions in AED more efficiently, benefiting from faster processing times, lower costs, and simplified reconciliation.
As the MENA digital economy flourishes and trade between Asia and the MENA region continues to grow, demand for seamless cross-border payment solutions is rising. By introducing AED support, FOMO Pay aligns with this trend, providing businesses with a faster, reliable, and more cost-effective way to transact across regions.
In an increasingly interconnected world, FOMO Pay remains committed to driving financial innovation by offering a one-stop scalable digital banking and payment solution, empowering businesses to thrive in the global economy.
About FOMO Pay
Founded in 2015, FOMO Pay Pte Ltd is a major payment institution licensed in Singapore and Hong Kong. The firm has become a leading one-stop digital payment, digital banking, and digital asset solution provider. It is currently building Asia’s fully licensed financial platform, helping institutions and businesses connect between fiat and digital currency. The firm offers its three flagship products:
Visit www.fomopay.com for more information. For media inquiries, contact marketing@fomopay.com.
