Sumsub’s verification, monitoring, and risk solutions support FOMO Pay in scaling its compliance operations while adapting to evolving regulatory requirements.

SINGAPORE, Oct. 5, 2026 /PRNewswire/ — Sumsub, the first AI-powered trust infrastructure for compliance operations at scale, is partnering with FOMO Pay, a leading Singapore-headquartered payment institution, as FOMO Pay continues to expand its existing technology infrastructure alongside its growth across markets. Sumsub’s solutions form part of this broader technology infrastructure, adding capabilities across areas including identity and business verification and transaction monitoring to support evolving regulatory and operational requirements.

FOMO Pay’s business currently spans Southeast Asia, the Greater Bay Area, and the Middle East and North Africa, where compliance requirements can vary significantly between economies. 

Financial institutions are facing increasingly sophisticated and coordinated fraud threats across global markets. Sumsub’s Identity Fraud Report 2025-26 found that multi-step, resource-intensive attacks powered by AI rose 180% year-on-year globally in 2025. The Middle East (19.8%) recorded the fastest regional fraud growth year-on-year in 2025, followed by APAC (16.4%). AI-enabled deepfakes remain a particular concern in APAC, with incidents rising 158% in Singapore and 147% in Hong Kong year on year in 2025. These evolving risks, alongside local regulatory requirements, highlight the importance for scalable, connected compliance infrastructure that can support FOMO Pay’s operations across different global markets.

“As financial services become increasingly interconnected across markets, businesses need technology and compliance infrastructure that can evolve alongside their operations. At FOMO Pay, we continuously develop our processes and technology to support our expanding footprint and changing regulatory requirements,” said Leona Gan, Director of Business Development at FOMO Pay. “Our partnership with Sumsub adds further capabilities to our verification and compliance workflows, complementing the broader infrastructure we have in place as we scale across markets.”

FOMO Pay uses Sumsub’s modular, API-first platform as an additional solution within its existing technology infrastructure, further optimizing relevant workflows across different customer segments and markets. Sumsub supports more than 14,000 identity document types from over 220 countries and territories, and its proprietary Liveness detection technology serves as an additional layer of safeguard, being capable of identifying up to 99.98% of deepfake attempts in a single scan.

The platform also provides capabilities for business verification, ownership verification and AML screening as part of FOMO Pay’s onboarding and compliance workflows.

Beyond onboarding, FOMO Pay uses Sumsub’s transaction monitoring tools to further strengthen its existing approach to reviewing customer transactions and account activity for potential risks. This ensures end-to-end compliance coverage for FOMO Pay’s global operations.

“Payments and digital assets are converging, and customers increasingly move between services, platforms, and markets. For highly regulated sectors like financial services, trust and compliance must keep pace with these developments,” said Penny Chai, Vice President, APAC at Sumsub. “Our partnership with FOMO Pay reflects the growing need for scalable compliance operations, enabled by trust infrastructure that can adapt to evolving regulations and emerging fraud risks as financial services become more interconnected.”

Looking ahead, FOMO Pay will continue developing its digital financial infrastructure across global payments, global business accounts, and digital assets while exploring how AI and automation can play a greater role across its products and services.

About Sumsub

Sumsub is the first AI-powered trust infrastructure for compliance operations at scale. It connects identity and business verification, fraud prevention, transaction monitoring, and risk workflows, helping teams reduce manual work and enter new markets.

Trusted by over 4,000 clients across financial services, crypto, mobility, trading, marketplaces, education, and iGaming, including  Bybit, Bitpanda, Wirex, Avis, Vodafone, Duolingo, Kaizen Gaming, and Bancaribe.

About FOMO Pay

Founded in 2015, FOMO Pay is a payment institution licensed in Singapore, Hong Kong and the Middle East. 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 traditional and next-generation financial services. The firm offers its three flagship products:

FOMO Payment – One-stop digital payment solution for merchants, corporates and financial institutionsFOMO iBiz – Facilitate businesses’ everyday requirements for transactional banking needsFOMO Treasury – Corporate cash management and investment solutions for liquidity optimisation and earning yield

Visit www.fomopay.com for more information.

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SOURCE FOMO Pay; Sumsub

SINGAPORE, Oct. 5, 2026 /PRNewswire/ — Körber today announced a new partnership with Radha Exports Pte Ltd (Radha) to deploy a high-density automated pallet storage and interfloor conveying system. The technology will be integrated into Radha’s new state-of-the-art facility on Pandan Road, Singapore, enhancing operational efficiency across their operations.

Established in 1995, Radha is a leading FMCG retailer in Singapore, operating more than 200 outlets through ABC Bargain Centre, ValuDollar and Japan Home. As an importer, wholesaler and retailer, Radha sought a future-ready solution to optimise space, streamline material flow and support continued growth.

To meet these requirements, Körber engineered a solution that integrates a five-floor interfloor pallet lifter system with advanced smart shuttle technology. This high-density automated storage system will accommodate nearly 9,000 pallets within a compact volumetric space of approximately 61,200 m³, enabling seamless, accelerated goods movement across multiple facility levels.

Körber will integrate its Warehouse Control System (WCS) with Radha’s Warehouse Management System (WMS), linking storage and material flow to create a coordinated warehouse operation.

“As our retail footprint expands, automation has become essential to managing higher volumes and accelerating fulfillment. Körber partnered closely with our team to understand our operational needs and develop a scalable solution that meets today’s needs while supporting future growth,” commented Sunil Advani, Chief Operating Officer, Radha Exports Pte Ltd.

For Körber, the project demonstrates the value of combining proven technologies with a customer-focused approach. Louis Kok, Head of Marketing & Sales, Körber Business Area Supply Chain Singapore, said: “Radha’s multi-floor operations demanded a customized approach. Through transparent communication and close collaboration, we developed a system tailored to their workflows, building on our track record of delivering warehouse automation solutions in Singapore and across Southeast Asia.”

“Across APAC, different industries and markets present varying growth opportunities. Our vertical strategy helps us recognize these market dynamics and bring the right solutions and capabilities together with the industry expertise, to respond to specific requirements of our customers by creating greater value for our customers and Radha Exports Pte Ltd is a perfect example,” says Suunil Dabral, Senior Vice President & Regional Head APAC, Körber Business Area Supply Chain.

About Körber’s Business Area Supply Chain 

Supply chains are growing more complex every day. At Körber, we provide a comprehensive range of proven, end-to-end supply chain solutions tailored to any business size or growth strategy. Our customers optimize their supply chains through a portfolio spanning software, automation, mail and parcel solutions, robotics, and material handling, supported by the expertise to tie it all together. By connecting technologies and capabilities across the entire supply chain, Körber helps businesses turn their operations into a competitive advantage with leading technology to fuel what’s next.

The Business Area Supply Chain is part of Körber, a global technology company for intelligent manufacturing and supply chains solutions. Find out more on www.koerber.com.

Inquiries:

Louis Kok
Head of Marketing & Sales
Körber Supply Chain SG Pte Ltd
+65 6841 7073
info.sc.sgp@koerber-supplychain.com

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Findings from Visa Consumer 360 research, surveying 14,250 consumers across 14 Asia Pacific markets, point to growing interest in stablecoins.

SINGAPORE, Oct. 5, 2026 /PRNewswire/ — Visa, a world leader in digital payments, today released new survey findings on stablecoin awareness and consumer sentiment in Asia Pacific. The research reveals growing interest in practical uses such as everyday spending, travel and cross-border money movement, while limited understanding and concerns around trust remain barriers to wider use.

As stablecoins move beyond their crypto-native roots, consumers are beginning to view them less as a crypto-trading instrument and more as a potential tool for everyday spending, travel and cross-border transfers. Yet misconceptions remain widespread, with close to half believing stablecoins can only be used to buy or sell other cryptocurrencies. Turning this interest into everyday utility will depend on making stablecoins easier to understand and use through trusted, familiar and regulated payment experiences.

“We’re seeing a meaningful shift in how consumers across Asia Pacific think about stablecoins,” said Nischint Sanghavi, Head of Digital Currencies, Asia Pacific at Visa. “Consumers are beginning to see how stablecoins could support the ways they already spend and move money, particularly through online purchases, travel and cross-border transfers. The opportunity now is to turn that interest into trusted and familiar payment experiences that work at scale.”

Consumers show rising interest in everyday stablecoin use

Across Asia Pacific, 46% of consumers say they are likely to use stablecoins within the next five years, compared with 16% who have used them in the past 12 months. Interest extends to everyday online purchases, travel spending and overseas shopping, pointing to potential use beyond investment or crypto trading. Cross-border money movement is another area of potential, with 49% believing stablecoins could become a common way to move money across borders within five years.

This points to possible relevance for remittances, international transfers and other payment needs. Yet understanding has not caught up with these emerging use cases: 49% of consumers who are aware of stablecoins still believe they can only be used to buy and sell other cryptocurrencies.

Market-level findings show where stablecoin awareness and intent are strongest across Asia Pacific. Hong Kong (84%), India (80%) and Thailand (77%) recorded the highest awareness, while Vietnam (67%) and India (67%) showed the strongest intent to use stablecoins within the next five years. These findings highlight the importance of making stablecoins available through secure payment experiences consumers already recognise and trust. Visa is already working with banks, regulated financial institutions and payment partners to connect stablecoin capabilities with familiar ways to pay and move money.

Stablecoin awareness is mainstream, but trust and understanding remain barriers

Stablecoins have entered mainstream awareness across Asia Pacific, with 66% of consumers aware of them. Yet only 6% demonstrate an accurate understanding of how stablecoins work, while misconceptions remain with 41% believing that stablecoins always increase in value.

Trust is also holding consumers back. Among those who are aware of stablecoins but have never used them, 38% cite concerns about fraud or scams, while 36% point to a lack of understanding. Consumers show the strongest preference for regulated institutions, with government or central bank-linked entities (27%) and banks or regulated financial institutions (26%) ranking as the most trusted providers.

While interest is growing, adoption will depend less on awareness alone and more on whether stablecoins can be made understandable, secure and useful in everyday payment contexts. The findings underscore the need for trusted and familiar ways to access stablecoins. Visa is working with banks, regulated financial institutions and payment partners to bring greater security, compliance and usability to stablecoin-enabled experiences, including through the Visa Stablecoin Platform, which helps clients mint, move and manage stablecoins.

“This research confirms what we’ve been building toward,” added Nischint. “Consumers want stablecoins to feel like a natural part of the payments they already trust, not a separate system. Our role is to connect emerging stablecoin technology with the secure, familiar payment experiences consumers rely on every day.”

About Visa Consumer 360 study

The Visa Consumer 360 study was commissioned in 2026, with fieldwork conducted between June and July 2026. The study surveyed 14,250 consumers aged 18 to 65 across 14 Asia Pacific markets: Mainland China, Taiwan, Hong Kong, Japan, Korea, Singapore, Malaysia, Thailand, Indonesia, the Philippines, Vietnam, India, Australia and New Zealand.

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

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SOURCE Visa Worldwide Pte Ltd