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Invest2 publishersIndependently confirmed3 min readPublished

FOMO Pay layers Sumsub's identity checks onto the compliance stack it already runs

Singapore's FOMO Pay is adding Sumsub's identity checks, covering documents from over 220 countries, to its own compliance stack. Both reports call it a supplement, so FOMO Pay is buying breadth while keeping its existing review processes.

The Investor · Invest desk

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What happened

  • FOMO Pay operates across Southeast Asia, the Greater Bay Area and the Middle East and North Africa, where compliance requirements can vary considerably between economies.
  • The same report counts deepfake incidents up 158% in Singapore and 147% in Hong Kong over the period.
  • FOMO Pay plans to keep building in global payments, business accounts and digital assets, and is exploring AI and automation in its products.

Compiled by The InvestorSomething wrong?How this is made

Why it matters

  • cost Keeping its own review processes beside Sumsub's tools means FOMO Pay pays for two overlapping compliance layers in exchange for not building a global document library itself.
  • constraint The fraud growth rates used to justify the purchase are the vendor's own. A payments firm weighing a similar deal would be working from Sumsub's numbers.
  • precedent For regional payment firms facing different rules in each economy, the model on show is to buy document breadth and keep in-house review.

"Supplementary" is the word both accounts use for where Sumsub sits in FOMO Pay's technology stack [3]. FOMO Pay's own word is "complementing". "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," Leona Gan, FOMO Pay's director of business development, said [11]. Once accounts are live, Sumsub's transaction monitoring runs in addition to FOMO Pay's existing review processes, The Paypers reported [6].

One reading is that Sumsub supplies the part that is expensive for a single payments firm to assemble, a library of more than 14,000 identity document types from over 220 countries and territories [4], while FOMO Pay keeps its own judgement on customers. Another is that the supplement becomes the main layer as FOMO Pay adds markets in regions where rules vary by economy [2], and in-house review shrinks to exceptions. A third is that the purchase is mainly a deepfake filter bought off the shelf. I think the first fits the record best. Onboarding checks, ownership verification and anti-money laundering screening go on Sumsub's platform, while live monitoring sits beside FOMO Pay's own reviews [6]. The view is wrong if FOMO Pay retires those reviews, or if other payment firms in the same regions sign vendor deals that replace in-house systems.

Neither report discloses a price, a contract length or transaction volumes. Running two layers costs more than running one. Without a fee, there is no way to set the vendor bill against the cost of an in-house document library. What the purchase saves is engineering time: FOMO Pay does not have to build document coverage for more than 220 countries and territories itself [4]. I'd expect that budget to go where the company says it is heading, into global payments, business accounts and digital assets, along with AI and automation in its products [10].

The fraud case comes from the vendor. Sumsub's Identity Fraud Report 2025-26 counted a 180% rise in multi-step, AI-driven attacks globally in 2025 [7], or 2.8 times the prior year's level [14]. Fraud grew 19.8% in the Middle East and 16.4% in APAC [7], a gap of 3.4 percentage points [15] between two regions that overlap FOMO Pay's footprint [2]. Deepfake incidents rose 158% in Singapore and 147% in Hong Kong [8]. Sumsub says its liveness check catches up to 99.98% of deepfake attempts in one scan [5]. At that best-case rate, 2 of every 10,000 get through [13], and those are left for FOMO Pay's own checks.

Sumsub draws its own conclusion from those figures: fraud trends plus local rules show why payment firms need compliance systems that scale across jurisdictions [9]. "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," Penny Chai, Sumsub's vice president for APAC, said [12].

What to watch

  • Whether FOMO Pay scales back its own review processes as Sumsub's tools settle in, turning a supplement into outsourcing.
  • Vendor deals from other payment firms operating across Southeast Asia, the Greater Bay Area and MENA, and whether they replace or sit beside in-house systems.
  • Any disclosure of contract terms or volumes that would let the vendor fee be compared with the cost of an in-house build.

Clarity's read

What the record supports and how the coverage leans. The claims behind it follow.

Reality

Evidence35
Adoption25
Hype gap+25
Incentives80
Confidence60
Why these scores

Claim ledger

Ranked by verification strength, evidence, and original report placement.

  1. [1]

    FOMO Pay, a Singapore-based payment institution, will use Sumsub's technology for identity checks, business verification and transaction monitoring as it expands its operations.

    ReportedSupportedSource: thepaypers.com; also reported by fintech.global2 sources— create a free account to open themView cited source
  2. [2]

    FOMO Pay operates across Southeast Asia, the Greater Bay Area and the Middle East and North Africa, and compliance requirements across these economies can vary considerably.

  3. [3]

    Sumsub's modular, API-first platform has been added as a supplementary layer within FOMO Pay's existing technology stack.

    ReportedSupportedSource: thepaypers.com; fintech.global uses the same description2 sources— create a free account to open themView cited source

Sources

2 independent publishers whose own reporting we read for this story.

  1. fintech.global

    1 article · October 6, 2026

    FOMO Pay taps Sumsub as AI fraud surges across APAC
  2. thepaypers.com

    1 article · October 8, 2026

    FOMO Pay partners with Sumsub on compliance infrastructure

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