Businesses and public agencies can use PayNow service by mid-2018 Businesses in Singapore can receive payments from consumers and transfer funds to other businesses through PayNow Corporate, a service expected to launch around August this year. The service will be offered by 7 banks, which are already offering PayNow to their retail customers, namely Citibank, DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and United Overseas Bank. Following the success of the peer-to-peer PayNow scheme, Singapore takes one more step in going cashless. To use PayNow Corporate, businesses need to first link their bank accounts to their Unique Entry […]
Supermarkets embrace QR code payment modes In yet another major breakthrough for QR code payment systems, supermarkets in Singapore have begun to embrace Nets’ QR code. This is great news for the average consumer because going down to your neighbourhood grocer to pick up groceries can now be done without having to bring any cash or credit cards. With this newest development, a cashless society is truly achievable. Not all supermarkets will onboard Nets QR code at the same time. The first supermarket chain that intends to roll it out in all its stores is Cold Storage, which has plans […]
Lady M joins the nation’s efforts towards a cashless society Apart from its delectable spread of confectionaries, Lady M also connotes stylish and contemporary elegance. Hailing from the streets of New York, Lady M has been serving up gastronomic delights since 2001. Upon arriving in Singapore, Lady M has opened cake boutiques currently located at Orchard Central and Westgate. Well-known for pioneering the much beloved Mille Crepe cakes, which features no less than twenty paper-thin handmade crepes layered with light pastry cream, Lady M will be accepting only cashless payment methods for all sale transactions at its South Beach Avenue […]
Notice on Suspending Settlement during Chinese New Year Holiday 关于春节假期暂停结算的通知 Dear FOMO Pay Merchants, Please be advised that due to bank closure in mainland China for the Chinese New Year Festival, FOMO Pay will be required to suspend settlement between the 15th and 22nd of February. All settlements will resume from the 23rd of February. If you have any question, please do not hesitate to contact your FOMO Pay representative. We wish you a very happy Chinese New Year！ Best regards, FOMO Pay Pte. Ltd. 尊敬的FOMO Pay合作伙伴与商户们： 接到微信支付、支付宝等官方通知，由于受春节假期影响，中国大陆银行暂停结算业务，因此FOMO Pay将于2018年2月15日至2018年2月22日暂停清算，并于2018年2月23日起恢复正常的清算规则。 给您带来的不便敬请谅解，感谢您的理解与支持。 预祝您度过一个团圆美满的春节！ 顺颂商祺 FOMO Pay Pte. Ltd.
Rising popularity of QR code based payments in South-East Asia In a digital world where transactions can be readily inspected by consumers, it has become very easy to compare the different surcharges that are being applied on one’s purchases. While surcharges via e-payment modes typically comprise of a small percentage of the total transaction, they can potentially add up to a significant amount over time. Generally speaking, e-payment modes can be divided into two broad categories – use of credit cards and QR code payments, such as Grabpay or NETS QR. Recently, Singapore Airlines (SIA) made the decision to introduce […]
Rising popularity of QR code based payments in South-East Asia The Quick Response Code first emerged in the automobile industry, and was invented by the Japanese company Denso Wave in 1994. The initial purpose behind QR codes was to track vehicles during the manufacturing cycle. However, its ease of use and fast readability soon led to widespread interest outside of the automobile industry. As a result, since its conception, QR codes have found a myriad of other uses, ranging from mobile operating systems to video games. While QR codes reached mainstream consciousness through Japanese companies, they only truly achieved ubiquitous […]