FOMO Pay sets up new partnership with Grab Pay
Ride-hailing company Grab officially launched its in-store mobile payments method today, marking its biggest move yet outside of the transportation segment. FOMO Pay as the pioneer channel partner will add Grab Pay into its existing portfolio including WeChat Pay, NETSPay, UnionPay, Baidu Wallet, BestPay, etc.
As reported by Tech in Asia, Grab Pay is “designed to be scalable and flexible to work with other QR code-based mobile payments systems in Singapore, thus facilitating a collective effort to move Singapore towards a cashless society.” This could be a huge step towards a cashless society under SGQR Taskforce and Singapore’ Smart Nation vision, FOMO Pay will assist in taking merchants onboard and share the benefits of utilizing new technology to improve productivity.
At the moment, Grab has about 2o restaurants and food stalls in Singapore’s CBD area that signed up to accept cashless payments using GrabPay. With more than 4 million users/drivers, Grab is to target the 20,000 odd merchants in Singapore, as well as businesses across Southeast Asia, it has the potential to grow into the most widely used mobile payment method in Singapore with such a huge user base.
To pay for a meal is simple as “Scan, Key, Done”, users can scan the QRcode which is displayed at the cash counter with Grab App, then enter the amount to pay. Users can also top-up Grab Pay with their credit/debit cards same as other payment apps in the market, such as Alipay, WeChat Pay, NETSPay, etc.
For merchants, Grab has offered to waive first six months free of charge, while for consumers, there won’t be any additional cost. Moreover, to encourage users, Grab will offer twice of Grab Rewards points for transactions made through Grab Pay.
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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