FOMO Pay’s sharing of merchant app at Nets Developer Conference
Nets is a leading retail payments company based in Singapore and also operates Singapore’s national debit scheme. With over 100,000 acceptance points and 35,000 unified point-of-sale terminals nation-wide, it is one of the biggest payment networks in Singapore. In October this year, as part of the company’s two year Nets 2.0 initiative, Nets will launch its e-payment app and a digital payment infrastructure for merchants to include support for QR code and contactless payments made through smartphones. This new app, called NetsPay, will allow users to pay using the app and has successfully been tested in Tanjong Pagar Plaza Food Centre.
Last month, FOMO Pay received Nets’ invitation to become a pilot partner for Nets 2.0 and to participate in the Nets Developer Conference held on 21 September 2017. During the Conference, FOMO Pay CEO Louis Liu shared our payment solution which integrates FOMO Pay merchant app with e-Nets and Nets QR. He revealed that as part of the invitation, a challenge was made to measure the time it took to complete the integration. Despite the fact that FOMO Pay managed to integrate the solutions in just 4 hours, Louis believes that future iterations would see this timing cut even further due to the smoothness and simplicity of the process that FOMO Pay took.
Apart from software integration, Louis spoke about the two ways that the e-Nets vision can be achieved. The first is through an API for e-commerce, which would function just like PayPal or Stripe. The merchant in this case would just have to go to the developer’s portal, download the API, and subsequently integrate it with their website. The second way is SDK that works with both Android and iOS mobile app developers. This would entail integrating the mobile app with SDK so as to have low cost e-Nets that is able to support a payment function. Such an integration would help businesses (that run mobile applications) avoid having to partner with providers such as Apple Pay or Samsung Pay, thus keeping running costs low.
As part of the sharing session, Louis demonstrated using FOMO Pay’s solution to top up a Starhub pre-paid card. The demonstration showed how customers of Starhub, a partner of FOMO Pay, can top-up their pre-paid card via a quick and fuss-free process using the solution provided by FOMO Pay.
FOMO Pay is grateful to have the opportunity to present our solutions during the Conference. We are confident that as local businesses continue to explore the vast potential of e-payments, the solutions provided by Nets and FOMO Pay will stand at the forefront of this developing space. If you have queries regarding our solutions, please feel free to contact us here.
About FOMO Pay
FOMO Pay is an authorized partner of WeChat Pay, Alipay, UnionPay, Baidu Wallet & BestPay 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, Top Fintech Startups in Singapore by Fintech Asia. FOMO Pay provides a one-stop solution for local merchants by facilitating payment collection from China market, including Chinese tourists. This comprises of online payment and in-store payment modes. 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
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