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News & Updates

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, […]
June 6, 2017

FOMO Pay bags best new FinTech startup award at Seamless Asia 2017

FOMO Pay bags best new FinTech startup award at Seamless Asia 2017     Image Source: Terrapinn  Organized by Terrapinn, Seamless Awards Asia was held on 19 and 20 April at the Suntec Convention & Exhibition Centre in Singapore. The exciting 2-day event brought together players from the payments, e-commerce and retail industries in Asia, and attracted over 1,000 attendees.   Image Source: Terrapinn  Speakers include key leaders from global top companies such as Walmart, Facebook, Samsung Pay and Mondelez International. Attendees had numerous opportunities to network, attend panel discussions and learn from over 200 international exhibitors showcasing at the […]
June 1, 2017

MAS FinTech Valley: FOMO Pay exhibits in India’s First FinTech Spring Conference

MAS FinTech Valley: FOMO Pay exhibits in India’s First FinTech Spring Conference   Andhra Pradesh of India held its first FinTech Spring Conference on 9 and 10 March 2017 at Novotel, Visakhapatnam (Vizag). Vizag, the largest city in Andhra Pradesh and the 8th largest economy in India with a GDP of USD $48 billion, is also home to the first dedicated hub for financial technology in India. FOMO Pay was invited by the Monetary Authority of Singapore (MAS) to exhibit at the conference.   Founders of FOMO Pay, Liu Xi, Louis and Yang Zhan, pose for a photo at the […]