Local FinTech startup FOMO Pay was awarded the Grand Finale Judge award at the Open Innovation Contest 7.0 held by NTT Data. NTT Data is a leading IT services provider and global innovation partner. The group organized its 7th Open Innovation Contest in search of forming mutually beneficial business alliances among startups, NTT DATA Group and its clients. This year, the competition focused on high-tech startups in the area of FinTech, IoT, energy, insurance tech, healthcare tech, and others. The Grand Finale was held at NTT DATA’s Headquarters in Toyosu, Tokyo, Japan. Finalist teams gathered from 15 countries around the world, after winning preliminary contests held at their home countries earlier this year.
FOMO Pay was awarded for its innovative solutions in addressing business needs. The team recognized that while there are many payment methods in the market in Singapore, such as Alipay, WeChat Pay and Visa, it was a complicated process getting retailers and online businesses to accept all of these payment methods. As a result, FOMO Pay was founded as a platform to unify these payment methods, allowing online and offline businesses to accept a wide variety of cashless payment formats. This is aligned with the Monetary Authority of Singapore's vision in becoming an e-payments society.
About FOMO Pay
FOMO Pay provides one-stop QRCode Payment Solution which enables merchants to accept a full suite of new payment methods including WeChat Pay, NETSPay, mVISA, Grab Pay, Baidu Wallet, Best Pay, etc. Launched in 2016 with more than 1000 merchants acquired within a year, FOMO Pay is trusted by major companies including SPH, Marina Bay Sands, StarHub, JUMBO, Club 21, CHANEL, etc. With FOMO Pay, merchants can unlock true business potential by giving customers the payment options they prefer and adopt cashless payment easily. FOMO Pay is also sitting in MAS SGQR Taskforce to promote QR code payment and make Singapore a cashless
