Singapore-headquartered payment institution FOMO Pay has partnered with compliance and fraud prevention provider Sumsub, aiming to strengthen identity verification, transaction monitoring, and broader compliance workflows as FOMO Pay expands across Southeast Asia, the Greater Bay Area, and the Middle East and North Africa (MENA).
The companies said the deal is intended to help FOMO Pay support different regulatory requirements across markets and respond to rising fraud risks, including AI-enabled identity fraud. Sumsub cited its Identity Fraud Report 2025-26, which it said found multi-step AI-powered attacks rose 180% globally in 2025. The report also highlighted year-on-year increases in AI-enabled deepfake incidents in 2025, including 158% in Singapore and 147% in Hong Kong, according to Sumsub.
Under the arrangement, FOMO Pay is integrating Sumsub’s modular, API-first platform as part of its existing technology infrastructure. The deployment includes identity verification, business and ownership verification, and AML screening, as well as transaction monitoring intended to help identify potentially risky account activity.
Sumsub said its identity verification supports more than 14,000 identity document types across over 220 countries and territories. It also said its proprietary liveness detection technology can identify up to 99.98% of deepfake attempts in a single scan.
“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.”
“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.”
The companies said FOMO Pay plans to continue developing its financial infrastructure across global payments, business accounts, and digital assets, and is exploring broader use of AI and automation across its products and services.
