AMTD Digital to acquire stake in FOMO Pay

This is AMTD Digital's third controlling acquisition in Singapore's fintech sector.

AMTD Digital has announced that it will acquire a controlling stake in QR payments provider FOMO Pay through its “fusion-in” programme, according to a news release.

The programme involves a combination of share swap and cash for investment. This is AMTD Digital’s third controlling stake acquisition in Singapore’s fintech industry after the acquisitions of insurtech firm PolicyPal and CapBridge.

FOMO Pay will become a key member company within AMTD Digital, adding the rapidly growing payment function to the one-stop digital financial services, and further enhancing the comprehensive layout for AMTD Digital’s fintech platform across Southeast Asia.