Recent Blogs
March 1, 2019
Singapore racked a record high $468.78m (US$346.6m) in fintech investments in 2018, putting the country amongst the top five fintech markets by funds raised last year in Asia Pacific, behind China, India, Australia and Japan. Fintech firms in Singapore attracted the largest share of funding (48.5%) within ASEAN after achieving a record high $299.94m (US$222m) in 9M 2018, data from UOB showed. The focus of capital injections into Singapore largely went into FinTechs providing small and medium-sized enterprise (SME) financing services given that SMEs are said to account for 99% of all businesses and 65% of employment in 2017. SMEs are […]
March 1, 2019
FOMO Pay gladly partners with Razer Pay to expand their market in Singapore, by enhancing their Singapore merchant network and providing the solution for both merchants and customers. Razer Pay, an e-wallet firstly launched in Malaysia last year, is gaining much popularity. 700,000 sign-ups were made in a week while the global debut took place. This year, Razer Pay will expand its footprint to the city state, with a view of issuing over one million e-wallets by April 2019. To provide a full-fledged e-wallet experience for the growing user base, Razer has partnered with FOMO Pay to enhance the Singapore […]
February 25, 2019
FOMO Pay, a one-stop QR code payment solution provider works under the Monetary Authority of Singapore (MAS) as one of the members of the SGQR task force in transforming Singapore into a cashless society. SGQR, Singapore’s unified payment QR code has empowered many small and medium businesses to connect with the digital age and the rising group of tech-savvy consumers more efficiently. Click below to find out how SGQR enables a productive payment experience for consumers and merchants. As one of the largest digital payment aggregators and gateway in Singapore, FOMO Pay was nominated to be the founding member of […]
February 18, 2019
In August 2017, the Payments Council, a group of leaders from banks, payment service providers, businesses, and trade associations, advocated the use of QR code-based payments as a practical and convenient way to introduce e-payments to merchants. However, it was noted the proliferation of more proprietary QR codes at merchants risked fragmentation of payment solutions and inefficiency among merchants and consumers. The Payments Council then formulated an industry taskforce to develop a common QR code specifications for e-payments known as Singapore Quick Response Code (SGQR), a unified QR code that combines multiple payment QR codes into a single label to […]
February 8, 2019
SGQR, Singapore unified payment QR code (SGQR) launch took place in September 2018 has seen quick adoption rate among businesses ever since launch. FOMOPay, a one-stop QR code payment solution provider works closely with Monetary Authority of Singapore (MAS) for the SGQR initiative which replaces more than 19,000 versions of QR codes currently in the market. With the new SGQR label, businesses no longer need to deal with multiple QR code payment labels that could potentially cause confusion. At the same time, businesses can accommodate various types of mobile payment without going through different system interface, which allows more customers […]
January 31, 2019
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 note that banks in Mainland China will suspend settlement from Feb 02, 2019 to Feb 10, 2019 due to Chinese New Year. Transactions that take place during this period will be cleared on Feb 11, 2019. Other services, including but not limited to payment and refund will NOT be affected by the suspension of settlement. Thank you for your understanding.