FOMO Pay shortlisted in FUTR European RetailTech Top 50 2018
Every year, FUTR shortlists the Top 50 companies contributing to these 5 categories in the retail space: In-Store Experience, Commerce & Payments, Supply Chain, Fulfilment & Delivery, Product Design & Development, and Mobile & Digital. The list aims to identify startups that have the potential to cause real disruption in the retail sector, be it creating new ways to engage customers or apply technology in innovative ways to cater to retailers’ needs.
There were a total of 12 judges from companies across different industries, such as Bloomberg, Forbes, Vodafone, River Island and Ernst & Young.
This year, local FinTech startup, FOMO Pay was named in the FUTR European RetailTech Top 50 List, under Commerce & Payments. This category identifies startups facilitating better payments and transactions in stores or anywhere across the multichannel retail journey through digital innovation.
Founded in 2015, FOMO Pay provides a unified platform for various cashless payment methods, with a focus on Chinese payment methods. Some of the payment methods accepted are WeChat Pay, Nets Pay, Visa, Apple Pay, and MasterCard. By allowing retailers to accept all these payment methods easily through its QR code payment terminal, FOMO Pay helps to simplify their payment process. It also allows retailers to reach out to even more customers who are accustomed to varying cashless payment modes, thereby increasing their sales and revenue.
Aside from helping offline retailers, FOMO Pay has also successfully helped online retailers increase their revenue by acquiring overseas customers from mainland China. As Chinese tourists’ spending hits record high for 2 years in a row, allowing the acquisition of overseas customers opens up a huge target market for retailers to increase sales and thus, profits.
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 society.
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