~ Enhancing Cross Border Payments ~

ABU DHABI, United Arab Emirates and NEW YORK, Oct. 16, 2024 (GLOBE NEWSWIRE) -- DigiAsia Corp. (NASDAQ: FAAS) (“DigiAsia” or the “Company”), a leading Fintech as a Service (FaaS) ecosystem provider, has announced a strategic collaboration with Digit9, the cross-border payments orchestration platform developed by LuLu Money Singapore, a wholly owned subsidiary of Abu Dhabi-based LuLu Financial Holdings.

The partnership with Digit9 will enhance DigiAsia’s offering and competitiveness in servicing the cross-border payments needs for Indonesian consumers and SMEs in Indonesia and the GCC.

Further, DigiAsia will be able to leverage Digit9’s wide network of partners and the ability to facilitate cross-border payments in more than 150 markets globally, to create efficient and cost-effective cross-border payment rails to further support Indonesian consumers and SMEs.

DigiAsia estimates that the partnership with Digit9 will generate an estimated US$250mn volume annually in cross-border payments.

DigiAsia and Digit9 will continue strategic partnership discussions and look to launch innovative products and services in the cross-border payments space in the near future.

About DigiAsia

DigiAsia is a leading Fintech as a Service (FaaS) provider operating a B2B2X model offering its complete Fintech solution in emerging markets. DigiAsia's fintech architecture offers small and medium business enterprises (SMEs) comprehensive embedded finance APIs to streamline processes across the commerce value chain of distributors and customers. DigiAsia's embedded fintech solutions equally address democratizing digital finance access that supports financial inclusion of underbanked merchants and consumers in emerging markets resulting in growth for enterprise business. The suite of B2B2X solutions provided by DigiAsia include, but are not limited to, cashless payments, digital wallets, digital banking, remittances and banking licenses. DigiAsia has recently established a strategic initiative to develop its embedded FaaS enterprise solution with AI capabilities in Southeast Asia, India, and the Middle East, with plans for global expansion. For more information, please visit DigiAsia’s Corporate website here or Investor Relations website here.

About Digit9

Digit9 is a payments orchestration platform tailored to meet the diverse needs of financial institutions. It seamlessly integrates an array of payment methods, banks, and service providers, simplifying the complexities of cross-border payments. Digit9 has been developed by LuLu Money Singapore, a wholly owned subsidiary of LuLu Financial Holdings.