Recent Blogs

June 16, 2017

10 Strategies to Engage Chinese Travelers

The Chinese market is one that local retailers cannot ignore. Tourists from Mainland China make up Singapore’s second largest tourist market, with 2.1 million Chinese visitors last year. In fact, numbers are still growing at an unprecedented rate, due to increasing visitors from both tier 1 and secondary cities in China. Faced with high rents and competition from online retailers, local merchants are looking at the lucrative outbound Chinese market to boost retail sales. As a business owner in Singapore, how can you stand out from the crowd? What can you do to successfully woo travellers from China? Here are […]
June 15, 2017

Marina Bay Sands Singapore launches WeChat iBeacon Campaign in collaboration with FOMO Pay

Marina Bay Sands Singapore launches WeChat iBeacon Campaign in collaboration with FOMO Pay On 9 June, Marina Bay Sands (MBS) Singapore launched its WeChat iBeacon Campaign in more than 70 participating retail stores. This move aims to target mainland Chinese tourists, who are the biggest spenders in Singapore two years in a row, according to an article from The Straits Times. The iBeacon allows Bluetooth devices, such as smartphones, to broadcast or receive information within a 20m radius. Using the iBeacon technology, retailers can selectively display promotional discounts and notifications depending on how near or far the user is from […]
June 15, 2017

iOS 11 expands Apple Pay to include Apple Pay Cash

iOS 11 expands Apple Pay to include Apple Pay Cash Photo: Jim Merithew/Cult of Mac On June 5, Apple revealed the latest iteration of its iPhone and iPad operating system, iOS 11, at the annual World Wide Developer’s Conference. Apple has yet to confirm the release date of the new system, but it is rumoured that it will likely be released in fall with iPhone 8. Apple Pay is a mobile wallet system in iMessage. With iOS 11, Apple Pay will support a new feature – users can send or receive money from friends, or tell Siri to pay someone. […]
June 13, 2017

Chinese mobile-payment giants WeChat Pay and Alipay debut in Canada

Chinese mobile-payment giants WeChat Pay and Alipay debut in Canada Yorkdale Shopping Centre in Toronto, Canada started accepting WeChat Pay from May 11, 2017. (Image source: Xinhuanet) Last month, Tourism Toronto announced a new strategic partnership with OTT Financial Group, introducing WeChat Pay into Canada’s tourism businesses to boost travel and shopping consumption by Chinese tourists. This month, Alipay has also been launched in Canada, thus allowing local retailers to expand their mobile-payment offerings. WeChat is China’s most popular chat app, with over 700 million monthly active users, as of April 2016. The app also offers an abundant range of […]
June 11, 2017

TiEcon 2017: FOMO Pay exhibits in Silicon Valley

TiEcon 2017: FOMO Pay exhibits in Silicon Valley TiE Silicon Valley held its annual flagship conference, TiEcon, on 5th and 6th May 2017 at the Santa Clara Convention Center in USA. Ranked alongside Demo, TED and World Economic Forum among the top 10 conferences worldwide for ideas and entrepreneurship by Worth Magazine, TiEcon attracted over 4,700 attendees across 22 countries last year. The 2-day conference brought together key leaders, venture capitalists, entrepreneurs and technology firms from all over the world. This year, the conference focused on hot topics of innovation, with specialized key tracks addressing Internet of Things, FinTech & blockchain, […]
June 10, 2017

China’s foreign exchange regulator implements new regulation to limit capital outflow

China’s State Administration of Foreign Exchange recently announced a new regulation to tighten controls on overseas transactions, in an attempt to control capital outflow and protect the yuan. The Chinese forex reserves shrank by about a quarter from US$3.99 trillion in June 2015 to US$3.05 trillion in November 2016, according to an article from the South China Morning Post. This year, it experienced a further drop, falling below US$3 trillion for the first time in nearly six years. Starting from 1 September, Chinese banks are required to report any overseas credit card transactions above 1,000 RMB (S$203) to the regulator. Today, […]