NTT DATA awards FOMO Pay as the Singapore winner of the Open Innovation Contest 7.0
NTT DATA, a leading IT services provider and global innovation partner, launched its 7th Open Innovation Contest in search of forming mutually beneficial business alliance among startups, NTT DATA group and its clients. The company has been organizing open innovation contests twice a year since 2014. This edition zooms in on high-tech startups in the field of FinTech, IoT, energy, insurance tech, healthcare tech, BPM, Digital Archives, big data, digital marketing, blockchain, Open API, personal data, AI, cyber security, virtual/augmented reality and robotics. NTT DATA will be hosting preliminary contests in 15 cities worldwide, namely Barcelona (Spain), Madrid (Spain), Lisbon (Portugal), Guiyang (China), Melbourne (Australia), Mumbai (India), San Francisco (United States), London (United Kingdom), Milano (Italy), Singapore, Sao Paulo (Brazil), Santiago (Chile), Tokyo (Japan), Toronto (Canada), and Tel Aviv (Israel). On 11th Jan, FOMO Pay was selected as the Singapore winner for the Singapore preliminary contest amongst 10 other competing startups.
Cashless payments have been on the rise in Singapore, as part of Singapore’s Smart Nation initiatives to take full advantage of technology. Mobile payment options like Alipay, WeChat Pay and NETSPay might be easy to use for consumers, but it might not be easy finding businesses that accept all of the available payment options. Recognizing the need for a platform to unify these payment methods into a single platform, FOMO Pay was created. Through FOMO Pay, online and offline businesses are able to accept a variety of cashless payment modes, including WeChat Pay, Baidu Wallet, Visa, and Mastercard. As a result, businesses will be able to make full use of technology and go cashless, as well as converting potential consumers into actual buyers. FOMO Pay will then proceed to pitch at the Grand Finale in Tokyo in March 2018 to fight for the Grand Finale Prize alongside winners from other venues. The Grand Finale winner will get a three-month in-kind contribution to support the development of their business.
Zack Yang, Chief Operations Officer of FOMO Pay, presents to the panel of judges – Mr. Jeffrey Goh (Chief Executive Officer Network for Electronic Transfers Singapore), Mr. Samuel Hall (Managing Director of Rainmaking Innovation Singapore), Mr. Kotaro Zamma (Head of Section of Open Innovation and Business Incubation of NTT DATA), Mr. Kaz Okada (Senior Expert of Section of Open Innovation and Business Incubation of NTT DATA), and Mr. Atsushi Masuda (Head of FSI Business & Vertical of NTT DATA).About FOMO Pay