Auzzi Shopping

Men's Weekly

.

FOMO Pay has officially become the member of Singapore Clearing House Association (SCHA)

  • Written by Auzzi Shopping

SINGAPORE - Media OutReach - 6 March 2023 - FOMO Pay, the leading major payment institution headquartered in Singapore, announces its official membership in the Singapore Clearing House Association (SCHA), a prestigious organization comprising the Monetary Authority of Singapore (MAS) and elected financial institutions.



As an SCHA member, FOMO Pay will leverage the association's clearing services and facilities to enhance the reconciliation process for direct fund transfers between financial institutions, ensuring FOMO Pay clients' timely business transactions while safeguarding all parties involved by recording transaction details and validating fund availability.

This membership represents another significant milestone for FOMO Pay after becoming SWIFT network member recently in December 2022, reflecting the company's unwavering commitment to providing compliant and secure digital payment services.

The SCHA is an association formed in December 1980 to establish, manage and administer clearing services and facilities for cheques and debit and credit items of its members. The SCHA also establishes the rules on the rights and responsibilities of participating banks as well as the service providers for the various clearing systems. The SCHA is responsible for the Singapore Automated Clearing House (ACH), which runs the Singapore Dollar Cheque Clearing System, the United States Dollar Cheque Clearing System and the Interbank GIRO System.

Hashtag: #FOMOPay #SCHA #FinTech #Payment #Transaction #FinancialInstitutions


The issuer is solely responsible for the content of this announcement.

About FOMO Pay

Founded in 2015, FOMO Pay Pte Ltd is a major payment institution (License No. PS20200145) regulated under the Payment Services Act in Singapore, licensed by the Monetary Authority of Singapore (MAS) to conduct Cross-border Money Transfer Service, Domestic Money Transfer Service, Digital Payment Token Service, and Merchant Acquisition Service. The firm has become a leading one-stop digital payment and banking solution provider and is currently building Asia's first licensed gateway helping institutions and businesses to connect between fiat and digital currency. The firm offers its three flagship products:

  • FOMO Payment - One-stop digital payment solution for merchants, corporates and financial institutions
  • FOMO iBank - Facilitate businesses' everyday requirements for transactional banking needs
  • FOMO Crypto - Asia's first licensed gateway bridging digital currency and fiat

Today's Features at Auzzi

7 Unexpected Items Every Home First Aid Kit Needs Now

We all know the basics: bandages, antiseptic wipes, and pain relievers. But a truly comprehensive home first aid kit goes beyond the obvious. It's about being prepared for the unexpected s...

Preserving Australia's Heritage Buildings: Why Painting Really Matters

Australia's built heritage tells a story of who we are - a story written in stone, brick, and wood. Our grand sandstone civic buildings, modest Victorian terraces, and historic churches ar...

Home Recording Studio Building 101: A Smart Investment for Independent Musicians

Building a home recording studio is an increasingly practical option for independent musicians seeking creative control and long-term value. With more affordable recording equipment and acce...

Float Therapy: Deep Rest in a Weightless World

Float therapy, also known as flotation therapy or sensory isolation, is a wellness practice designed to bring the body and mind into a state of profound rest. Participants lie effortlessly i...

Why Early Driving Education Builds Lifelong Safe Habits

Learning to drive is a major milestone in a person’s life. The habits formed during the early stages of driving education often stay with individuals for decades. This is why starting pr...

Top 10 Affordable Motorbikes Worth Buying This Year

A big goal for many riders is to find a motorcycle that strikes a good mix between price, performance, and dependability. There are many great options on the market that offer great value ...

Steamed vs Fried Momos: Which Melbourne Diners Prefer

Melbourne loves a good food debate. We argue about who makes the best flat white. We disagree on the best spot for banh mi. Now, as Nepalese food becomes a staple in our suburbs, a new que...