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Recent Blogs

September 4, 2017
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2Q2017 Key Highlights – Baidu, Alibaba, Tencent and Jingdong’s Financial Report

2Q2017 Key Highlights – Baidu, Alibaba, Tencent and Jingdong’s Financial Report The Internet sector in China is still booming. Baidu, Alibaba, Tencent and Jingdong (JD) have achieved increased profits this quarter, showing that China’s Internet sector is still booming despite a fairly saturated market. Baidu’s revenues rose 14.3% this quarter to RMB20.874 billion, according to an article from the Financial Times. Alibaba’s revenue for the quarter was RMB50,184 million (US$7,403) million, an increase of 56% year-over-year, according to a press release from Alibaba. Tencent revenue was RMB56,606 million (USD8,356 million), an increase of 59% over the second quarter of 2016, […]
August 14, 2017
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FOMO Pay to help more SMEs reach out to mainland Chinese customers with new FOLAH (易码付) service

FOMO Pay to help more SMEs reach out to mainland Chinese customers with new FOLAH (易码付) service Singapore, August 14, 2017 – Local payments company FOMO Pay enhances its existing services to help small and medium-sized enterprises in Singapore attract mainland Chinese customers. Starting from July this year, merchants without a point of sale (POS) terminal will be able to use FOLAH (易码付) to allow customers to pay via Chinese mobile payment methods such as WeChat Pay and Alipay. FOLAH (易码付) is a QR code based technology that aggregates several payment methods. Each participating retailer will obtain its own unique […]
August 9, 2017
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DBS introduces QR code payment for taxis in Singapore

DBS introduces QR code payment for taxis in Singapore From July 27, commuters can pay for their taxi rides through a simple scan of the QR code on the taxi’s cashless payment terminal via the DBS PayLah app. This is available on all 16,000 ComfortDelGro taxis in Singapore. No credit or debit cards are required for the transaction. Launched in 2014, DBS PayLah is a mobile app that functions as a mobile wallet and is Singapore’s leading mobile wallet at 600,000 users. Users have to top up funds into their account in DBS PayLah in order to use it. The […]
July 31, 2017
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How is WeChat Pay doing in Japan?

What is WeChat Pay doing in Japan? More than 6.37 million Chinese tourists travelled to Japan in 2016, making up ¼ of Japan’s total foreign tourists, according to an article from PC Online. More and more Japanese business owners have integrated mobile payment services popular in China, such as WeChat Pay and Alipay, into their payment systems in order to attract more Chinese consumers. Increased adoption of WeChat Pay amongst Japanese businesses On 3 July, Don Quijote, one of Japan’s most popular discount chain store, announced that they will accept WeChat Pay, thus becoming the world’s 100th WeChat Pay flagship […]
July 21, 2017
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Apple Pay’s largest promotional campaign in China aims to capture market share

Apple Pay’s largest promotional campaign in China aims to capture market share  A year after launch in China, Apple Pay has yet to receive anything more than a lukewarm response from Chinese consumers. The Chinese mobile payment market is the largest and the fastest growing mobile payment market in the world, but it is a difficult market to compete in for new entrants, as market leaders Alipay and WeChat Pay have dominated the market. Recent data from March this year showed that Alipay had a market share of 54.7%, while Tenpay (including both WeChat Pay and QQ Wallet) came in […]
July 19, 2017
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Singapore takes a new step towards going cashless with PayNow mobile app

Singapore takes a new step towards going cashless with PayNow mobile app 9 out of 10 Singaporeans prefer to make electronic payments rather than using cash, according to data collected from the 2016 Visa Consumer Payment Attitudes survey. This is an 11% increase from the prior year, indicating that cashless payments are on the rise in Singapore. Also, 91% of Singaporeans are aware of contactless payments, an increase of 4% from the previous year. In addition, more people are making the transition from the physical wallet and cards to their smartphones. The mobile payment market in Singapore is a fragmented […]