FOMO Pay set to expand payment & remittances business in Hong Kong

By Gloria Mathias

FOMO Pay has announced that the company has obtained a Money Service Operator (MSO) license from the Hong Kong Customs and Excise Department.

Relying on this new license, FOMO Pay plans to launch payment and remittance services in Hong Kong to meet the global collection and payment needs of corporate customers. This marks another key milestone in the growth of FOMO Pay’s business.

Founded in 2015, FOMO Pay has been committed to providing one-stop digital payment and digital banking solutions to merchants, enterprises, and financial institutions. It has obtained multiple financial services licenses issued by the Monetary Authority of Singapore (MAS), including domestic remittances, cross-border remittances and merchant acquiring licenses.

Hong Kong, an international financial centre, provides FOMO Pay with the opportunity to expand its professional services to the Greater Bay Area. As corporate demand for improved financial interoperability continues to grow, FOMO Pay relies on its comprehensive digital payment and banking solutions to actively promote cross-border transactions.

The regulatory framework established in Hong Kong provides a stable platform for financial innovation and promotes the development of financial technology companies such as FOMO Pay. The company has set up an office in Hong Kong and is actively preparing to further tap local talent resources.

Allen Vincent, head of FOMO Pay, said, “We are honoured to provide our industry-leading solutions to merchants and enterprises in Hong Kong. Our extensive expertise, combined with a comprehensive regulatory framework, ensures that we can provide customers with fast, safe and compliant services.”

“Our journey began in Singapore and now we have expanded our operations to Hong Kong. The efforts we have put in to obtain the MSO license demonstrate our commitment to continuously providing value-added services to our customers. Looking ahead, our goal remains firm, which is to establish A fully integrated financial ecosystem that continues to deliver superior solutions to drive clients’ business growth,” added Vincent.