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FOMO Pay & Zand Bank to facilitate cross-border payments in Asia and MENA

By Gloria Mathias

December 15, 2023

  • APAC
  • APAC news
  • Asia

Elliptic, FOMO Pay, RiskTech, FinTech, Digital Payments, Asia, Risk Management, Digital Asset Compliance, Singapore Fintech, Hong Kong License, Fintech news, Fintech Hong Kong, MAS, Fitech news, Payments Solutions, Remittances, APAC News, Mastercard, QR Payments, Mastercard Payments, Card Payments, Debit Card, Credit Card, Hong Kong, Fintech License, Payments License, Remittances Business, Zand bank, Cross border Payments, ASIA, APAC, MENA,FOMO Pay, a Singapore-based digital payment firm, has joined forces with Zand Bank, the UAE’s digital bank, in a partnership to facilitate seamless cross-border payments among Asia and the Middle East, and North Africa (MENA).

This collaboration aims to enhance cost-effectiveness and time efficiency in B2B cross-border transactions, providing businesses with streamlined digital payment and digital banking solutions for collections and payouts in the regions.

With a robust presence in Asia, FOMO Pay remains dedicated to building bridges between Asia and global markets. Similarly, Zand Bank has contributed to the growth of the digital economy and financial connectivity in the MENA region through its secure, transparent, and convenient banking services.

Leveraging their extensive local networks and banking partnerships, this partnership not only ensures swift and secure payment processing but also empowers FOMO Pay and Zand Bank to extend more competitive rates to their clients

“At Zand, we are committed to fostering financial connectivity between MENA and the world. Our partnership with FOMO Pay is a key step in achieving this goal and establishing Zand as a gateway to the MENA and Asia regions. By leveraging our combined expertise, we will provide businesses with seamless and cost-effective cross-border payment solutions, helping to fuel economic growth in both regions,” said Michael Chan, CEO of Zand. “Zand takes an open-minded approach, unconfined by the tools and technologies of our time, to redefine the boundaries of traditional banking for our partners and clients.”

“As we embark on this strategic partnership with Zand Bank, we’re excited not only to empower Zand Bank with our leading digital payment and digital banking solutions but also to unlock the synergies that arise from our collaboration,” said Zack Yang, Co-Founder of FOMO Pay. “This partnership is a two-way street as we join forces with Zand Bank to establish stronger connections with Asian markets, we simultaneously enhance our own payout and settlement processes in MENA to better meet the diverse remittance needs of our clients. The joint effort aligns with our commitment to drive innovation and foster connectivity in global markets.”

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