Recent Blogs
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 […]
July 17, 2017
FOMO Pay, a mobile payment integrator in Singapore experiences business boom Louis Liu, the Co-Founder of FOMO Pay was interviewed and mentioned in Lianhe Zaobao’s 6 July article – 融合“移动支付”工程师生意大增. In the article, Louis shared about how FOMO Pay was founded, the difficulties faced on the route to success, as well as future plans for the company. He learnt that many local business owners were interested in new mobile payment solutions such as Apple Pay, WeChat Pay, Alipay, etc, but did not have the time to learn more about them in-depth nor to negotiate with each payment service providers individually. […]
July 12, 2017
ATS Singapore 2017: FOMO shares about The State of Programmatic in China ATS Singapore 2017 was held on 4 July at Marina Mandarin this year. It is a one-day event featuring one of the largest audiences of advertising and marketing technology industry experts. This year, it covered a range of interesting and relevant topics surrounding the APAC market. Louis Liu, the Co-Founder of FOMO (consisting of FOMO Pay, FOMO Ads and FOMO Digital), was invited to join in the panel discussion with 3 other panelists in the afternoon, at 1:30pm – Market Deep Dive: The State of Programmatic in China. […]
July 10, 2017
Alipay versus WeChat Pay: a battle between Chinese payment giants Alipay and WeChat Pay are dominant players of the third-party mobile payment market in China, and had significant influence on shaping China’s digital and mobile payment industry. China’s third party mobile payment market had a total transaction value of RMB 12.8 trillion in Q4 2016, and shows signs of further growth, according to a report from Analysys. Alipay Alipay is a third-party online payment platform, and was launched in China in 2004 through Taobao, the B2C platform of Alibaba Group, to facilitate payment. When a buyer purchases a product through […]
July 10, 2017
WeChat Pay users stand to enjoy great savings from the WeChat Summer Event From 1 July to 31 August this year, users of WeChat Pay will stand to enjoy great savings from the WeChat Summer Event. How does it work? As long as a consumer pays via WeChat Pay for offline transactions, he or she can get 10% discount (capped at 50RMB per transaction) off the total bill immediately. Each WeChat user is entitled to using this discount 4 times (twice in July and twice in August), without any required minimum spend. The discounts are distributed on a first-come-first-serve basis, […]