Recent Blogs
October 10, 2017
Who are the key players in Singapore’s mobile payment industry? The past few months have seen an upsurge in discussions relating to the mobile payments industry in Singapore. Battle lines have been drawn between those who support the government’s decision to develop Singapore into a cashless society and those who prefer to throw caution to the winds. No matter which side you identify with, it cannot be denied that the number of entrants into the market has drastically increased in a relatively short span of time, causing no small amount of confusion. On the one hand, we have established players […]
October 2, 2017
September Monthly Fintech News Summary As the month of September draws to a close, we bring you a summary of the latest news that have been shaking up the mobile payments industry. WeChat Pay Despite the fact that Apple has its own Apple Pay, the tech giant has announced that its app store and music streaming service will now accept WeChat Pay in China. This comes after reports indicate that Apple is in dire need of alternative revenue streams to make up for the sales slump resulting from Chinese brands entering the premium phone market. As Tencent’s WeChat Pay works […]
September 29, 2017
FOMO Pay’s sharing of merchant app at Nets Developer Conference Nets (https://www.nets.com.sg) is a leading retail payments company based in Singapore and also operates Singapore’s national debit scheme. With over 100,000 acceptance points and 35,000 unified point-of-sale terminals nation-wide, it is one of the biggest payment networks in Singapore. In October this year, as part of the company’s two year Nets 2.0 initiative, Nets will launch its e-payment app and a digital payment infrastructure for merchants to include support for QR code and contactless payments made through smartphones. This new app, called NetsPay, will allow users to pay using the […]
September 22, 2017
Are smartphones compromising the security of mobile payments? As the new iPhone 8 hits the shores of Singapore on 22 September, tech and smartphone enthusiasts are gushing about the new features that the iPhone 8 is said to incorporate. However, much of the discussion is also centered on the new facial recognition system that has been developed for the upcoming iPhone X. Through a combination of light projectors and sensors that take several images of an individual’s facial features, the new system is said to be able to recognize the rightful owner thus unlocking the phone in an instant. With […]
September 21, 2017
Cash is still the preferred mode of payment in South East Asia, PayPal study reveals As one of the last development frontiers in the world, the South East Asian digital payment market is closely watched by industry experts. Recently, PayPal commissioned a study to assess attitudes towards new payment methods and to obtain insights into the state of financial health and satisfaction in Asia. The report, titled ‘Digital Payments: Thinking beyond Transactions’, assessed the attitudes that people have towards new payment methods and revealed the vast untapped potential for digital payment solutions in the region. The report found that while […]
September 19, 2017
FOMO Pay shortlisted as finalist for Fintech Awards in this year’s Singapore Fintech Festival The Monetary Authority of Singapore has recently announced the finalists for the 2017 Global Hackcelerator and FinTech Awards. These awards are among the highlights of this year’s Singapore Fintech Festival (‘SFF’) that is scheduled to take place from 13-17 November 2017 at the Singapore Expo. The winners of the FinTech Awards will be announced at the FinTech Awards Night, which will be held on 16 November. As a named finalist in the FinTech Award category, FOMO Pay is in contention to win the prestigious award given […]