Recent Blogs
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.
January 23, 2019
SGQR is an cashless initiative by MAS to drive Singapore mobile payments and transform Singapore into a cash-light society, by encouraging Singaporeans to reduce the use of cash. With 27 different payment schemes from various service providers under the SGQR label, consumers can enjoy multiple e-payment solutions through one payment gateway at lowered costs. FOMOPay, a one-stop QR code payment solution provider works cohesively with Monetary Authority of Singapore (MAS) for the SGQR initiative which replaces more than 19,000 versions of QR codes currently in the market. Businesses can do away with the clutter of having to put up multiple QR […]
December 27, 2018
Notice on Suspending Settlement during New Year’s Day 关于元旦假期暂停结算的通知 Dear FOMO Pay Merchants, We would like to inform you that WeChat Pay will suspend settlement from Dec 30, 2018 to Jan 1, 2019 due to New Year’s Day. Transactions that take place during this period will be cleared on Jan 2, 2019. After that period, the settlement will resume back to the normal situation. Other WeChat Pay services, including but not limited to payment & refund will NOT be affected by the suspension of settlement. Please see the official notification from WeChat Pay Global as below: Thank you for your […]
October 24, 2018
EMQ, a leading financial settlement network in Asia, and FOMO Pay, the award winning QR code payment solution provider in Singapore, has announced a partnership to support the growing demand for real-time international settlements from Singapore to China, with the ability to expand across other countries in Asia. The partnership will also help facilitate and support the government’s 2020 Smart Nation Initiative to accelerate Singapore’s shift to a digital economy. “Singapore is an extremely important market in our global growth strategy and we are excited to support the government’s ambition to transform Singapore into a Smart Nation by creating new […]