Recent Blogs
August 7, 2017
WeChat Pay Cashless Day While using money to barter for goods and services has long been a practice for humans engaging in trade, the use of paper bills only first came about during the Tang Dynasty (A.D. 618 – 907) in China. Since then, using paper bills have become the norm across humanity and one cannot imagine a world without the use of such bills. But is that really so? A journalist from Channelnewsasia, one of Singapore’s leading media news outlet, recently embarked on an experiment in China. He was to try going around without cash for one entire day […]
August 3, 2017
On 29 July 2017, representatives from China Telecom’s BestPay and FOMO Pay met at the Tianyi Intelligent Ecological Expo where they signed a cooperation agreement, officially announcing the entry of BestPay into Singapore. This is yet another exciting step towards bringing the convenience of WeChat Pay to users in Singapore. Under this strategic partnership, FOMO Pay will help to incorporate China Telecom BestPay’s payment solutions into the shopfronts of various local merchants and retailers. Known in China as one of the three largest telecommunications provider, China Telecom boasts a network of 1.1 million stores spread all over the country and […]
July 31, 2017
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 25, 2017
RISE Hong Kong International Conference features FOMO Pay RISE is an international conference organised by the team behind Web Summit, one of Europe’s largest tech seminars. Spearheaded by co-founder and CEO Paddy Cosgrave, Web Summit was first established in Dublin, Ireland in 2010. From its humble beginnings of around 400 Irish Entrepreneurs, the Web Summit has grown from strength to strength. In 2014, more than 22,000 participants attended the event including the founders and CEOs of Twitter, YouTube, Netflix, Skype, Tesla and PayPal. This year, in his customary introduction to the event on 16 May, Mr Cosgrave turned the spotlight […]
July 21, 2017
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
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 […]