Louis Liu, co-founder of FOMO Pay, was invited to speak at Morgan Stanley’s 15th Asia Pacific Summit held at Mandarin Oriental, Singapore from 16 to 18 November 2016.
Since 2002, Morgan Stanley’s Asia Pacific Summit has been regarded as the region’s preeminent working conference. Every year, the conference brings together global investors, senior corporate executives and policy makers to participate in panel discussions, network and learn from one another. Prominent speakers include Minister Mentor Lee Kuan Yew in 2003, and Deputy Prime Minister Lee Hsien Loong in 2002.
This year, the conference comprised of more than 3,000 individual meetings and more than 100 track presentations covering issues on the global environment, China’s economy, and Asia’s growth outlook. Global leaders, such as Eric Jin, CEO of Ant Financial Services Group (affiliate company of the Chinese Alibaba Group), and Sidney Huang, CFO of JD.com were invited to speak during the conference.
Louis Liu, co-founder of FOMO Pay, was also invited to speak on the second day of the conference. He shared insights on China’s mobile commerce landscape and how overseas merchants can connect with the Chinese market through Chinese-preferred payment modes.
Louis Liu, co-founder of FOMO Pay, shares his insights on the Chinese payment landscape.
Liu highlighted China’s rapidly increasing outbound tourism figures and tourism spending – the number of Chinese traveling abroad is likely to double in 2020 to reach 234 million. Similarly, outbound expenditure is expected to double to nearly S$507 billion by 2020.
These figures are especially importance to Singapore retailers, as Singapore is one of the top 10 destinations favoured by Chinese travelers.
Other interesting phenomenon such as the growing popularity of mobile shopping in China, phenomenal rise of mobile sales during Alibaba’s Singles Day, estimated monthly payment transactions per user via various payment methods, and mobile trends in China were also raised during the session.
Other speakers at the conference include 58.com, New Oriental Education & Technology, Mtime Wanda and Wanda Cinema Line.
About FOMO Pay Pte. Ltd
FOMO Pay is the first authorized WeChat Pay & Baidu Wallet partner in Southeast Asia, and was selected as one of the TOP 100 Asian Companies by E27, TOP 100 Startups by Red Herring Asia, and Top 8 by DBS’ FinTech Accelerator Program.
FOMO Pay provides a one-stop solution for overseas merchants by facilitating payment collection from the China market, including Chinese tourists. This comprises of online/offline Chinese payment modes, such as WeChat Pay, Alipay and Union Pay.
FOMO Pay’s business solution serves clients from a wide range of industries, including the telecom, publishing, tourism and hospitality, F&B, education and retail industries.