News & Updates

September 21, 2017
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Cash is still the preferred mode of payment in South East Asia, PayPal study reveals

Cash is still the preferred mode of payment in South East Asia, PayPal study reveals As one of the last development frontiers in the world, the South East Asian digital payment market is closely watched by industry experts. Recently, PayPal commissioned a study to assess attitudes towards new payment methods and to obtain insights into the state of financial health and satisfaction in Asia. The report, titled ‘Digital Payments: Thinking beyond Transactions’, assessed the attitudes that people have towards new payment methods and revealed the vast untapped potential for digital payment solutions in the region. The report found that while […]
September 19, 2017
fomo-pay-shortlisted-as-finalist-for-fintech-awards-in-this-years-singapore-fintech-festival

FOMO Pay shortlisted as finalist for Fintech Awards in this year’s Singapore Fintech Festival

FOMO Pay shortlisted as finalist for Fintech Awards in this year’s Singapore Fintech Festival The Monetary Authority of Singapore has recently announced the finalists for the 2017 Global Hackcelerator and FinTech Awards. These awards are among the highlights of this year’s Singapore Fintech Festival (‘SFF’) that is scheduled to take place from 13-17 November 2017 at the Singapore Expo. The winners of the FinTech Awards will be announced at the FinTech Awards Night, which will be held on 16 November. As a named finalist in the FinTech Award category, FOMO Pay is in contention to win the prestigious award given […]
September 13, 2017
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Tanjong Pagar Plaza Food Centre now accepts NETS QR code payment

Tanjong Pagar Plaza Food Centre now accepts NETS QR code payment The payment network Nets has recently launched a standardized QR code at Tanjong Plaza Food Centre. From 9 September, customers can pay for their meals by scanning the QR code on display at 47 out of 50 stalls at the hawker center. As of now, customers can pay using OCBC’s PayAnyone and UOB’s Mighty, with DBS Paylah! set to be introduced from mid-November onwards. Similar to FOMO Pay’s payment method which uses both WeChat Pay and Alipay, customers will scan the QR code on display before keying in the […]
September 8, 2017
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RAZER unveils proposal for Singapore e-payments solution

RAZER unveils proposal for Singapore e-payments solution Last month, social media was abuzz when Razer CEO Tan Min Liang replied PM Lee’s tweet during his National Day Rally speech about the inordinate number of e-payment solutions in Singapore and the need to streamline the number of these solutions. Holding true to his word, Mr Tan published his proposal (8 September) for a cashless payments system, which has the ultimate aim of transforming Singapore into a cashless society within 18 months. According to the executive summary, the proposal is dual pronged. Firstly, Razer will ‘provide ongoing feedback, development and advisory support […]
September 5, 2017
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Jumbo Group adopts WeChat Pay in a bid to target mainland Chinese customers

Jumbo Group adopts WeChat Pay in a bid to target mainland Chinese customers Situated on the banks of the Singapore River amidst the hustle and bustle of Clarke Quay’s famous nightlife, Jumbo Seafood has been serving up gastronomic delights for locals and travellers alike. Since its humble inception in 1987, Jumbo Seafood has expanded to include 9 restaurants in Singapore and China. The latest Jumbo outlet opened in Beijing, China in July this year, bearing testament to the restaurant’s popularity not only in Singapore but in China as well. Apart from Jumbo Seafood, parent company Jumbo Group also owns JPOT […]
September 4, 2017
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2Q2017 Key Highlights – Baidu, Alibaba, Tencent and Jingdong’s Financial Report

2Q2017 Key Highlights – Baidu, Alibaba, Tencent and Jingdong’s Financial Report The Internet sector in China is still booming. Baidu, Alibaba, Tencent and Jingdong (JD) have achieved increased profits this quarter, showing that China’s Internet sector is still booming despite a fairly saturated market. Baidu’s revenues rose 14.3% this quarter to RMB20.874 billion, according to an article from the Financial Times. Alibaba’s revenue for the quarter was RMB50,184 million (US$7,403) million, an increase of 56% year-over-year, according to a press release from Alibaba. Tencent revenue was RMB56,606 million (USD8,356 million), an increase of 59% over the second quarter of 2016, […]