VW Group Singapore and FOMO Pay add customer digital currency capabilities

Volkswagen Group Singapore (VGS) has announced a partnership with a leading Singapore-headquartered major payment institution, FOMO Pay, to enable digital currency payments for its vehicles and services.

VW customers in Singapore can now pay using digital assets such as Bitcoin (BTC), Ethereum (ETH), and stablecoins including USDT, USDC, and more.

The move by VGS is in response to the growing adoption of digital currencies among consumers in Singapore, with recent data showing that 26% of residents now own digital assets. As consumers increasingly seek faster and more cost-effective payment methods, digital currencies are gaining traction not only for their speed and enhanced security, but also global interoperability and lower transaction costs.

DPT transactions per customer are subject to a daily cap of SGD 4,500, with a maximum of SGD 13,500 based on smurfing limits.

"An increasing number of consumers today are digital natives. They expect speed and convenience across all touchpoints, including how they pay," said Dr. Kurt Leitner, Managing Director of Volkswagen Group Singapore. "Our partnership with FOMO Pay aligns with our broader vision of delivering premium experiences powered by technology and innovation."

FOMO Pay fuels digital currency payment acceptance

With FOMO Pay's digital asset payment infrastructure, VGS now supports digital currency payments for partial payments on new vehicle purchases, as well as aftersales services. All transactions are processed securely through FOMO Pay's enterprise-grade gateway, ensuring compliance, transparency, and real-time exchange rates at the point of payment.

"FOMO Pay is excited to partner Volkswagen Group Singapore in elevating their consumer payment experience," said Rose Wang, Head of Digital Payments at FOMO Pay. "As Singapore advances toward becoming a smart financial center, we believe digital assets will continue to play an important role in improving customer experience. At FOMO Pay, we remain committed to delivering a full suite of payment solutions, from digital currencies to fiat, and from online channels to offline channels. These payment solutions aim to empower businesses and enhance customer experiences."

Volkswagen Group Singapore is a subsidiary of Porsche Holding Salzburg, which is fully owned by the Volkswagen Group. The company's portfolio includes Volkswagen Passenger Cars, Volkswagen Commercial Vehicles, ŠKODA, CUPRA and Das WeltAuto — Volkswagen Group Singapore' certified pre-owned car programme.

Story ContinuesVolkswagen Group Singapore imports and retails Volkswagen, Volkswagen Commercial Vehicles, Škoda and CUPRA vehicles directly.

"VW Group Singapore and FOMO Pay add customer digital currency capabilities" was originally created and published by Just Auto, a GlobalData owned brand.

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