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FOMO Pay & Klasha to power Africa-Asia cross-border payments

By Gloria Mathias

January 31, 2024

  • 1exchange
  • Africa
  • APAC

FOMO Pay, CapBridge, 1exchange, Asset Management, Capital Markets, Singapore FinTech, Klasha, Asia, Africa, Payments, Cross border payments, Fintech Solutions, FOMO Pay, a digital payment and digital banking solutions provider in Asia, has announced its strategic partnership with Klasha, a global cross-border payment company.

Recent studies reveal that Asia accounts for over 40% of Africa’s exports and imports; therefore, facilitating cross-border transactions between the two regions has become increasingly vital. Recognising this need, the new partnership between Klasha and FOMO Pay aims to provide a platform that enhances cross-border payment capabilities for merchants and businesses across Africa and Asia.

The key highlights of this partnership include:

  • Easy online collections and payments: With this partnership, FOMO Pay will enhance collections for its corporate clients through Klasha’s platform, empowering businesses to receive payments in local African currencies and money methods while they get payouts in their preferred currencies.
  • Market expansion: Asian businesses can unlock opportunities to expand into new markets in Africa and broaden their customer base with Klasha and FOMO Pay’s joint efforts in facilitating cross-border payments.

Jess Anuna, CEO of Klasha, said, “We are excited about our new partnership with FOMO Pay and what this unlocks for merchants in Africa and Asia. With combined efforts, we will continue to enable merchants in Asia to collect payments from the continent more seamlessly through our payment rails and our unique ability to terminate payments in greater Asia. We look forward to widening our services to more merchants with this partnership.”

Zack Yang, Co-founder of FOMO Pay, said, “In this era of globalisation, the synergy between FOMO Pay and Klasha marks a significant milestone in increasing financial connectivity between Africa and Asia. Our partnership is more than just a business collaboration; it’s a commitment to fostering seamless payments and economic growth across continents. By partnering with Klasha, we enhance our service offerings, expand payment corridors, and empower our institutional clients to grow in the global market.”

This collaboration opens new avenues for African and Asian merchants and businesses, facilitating market expansion and easing entry into new territories.

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