FOMO Pay showcases business solution at MAS Singapore Fintech Festival 2016

Co-organized by the Monetary Authority of Singapore (MAS) and the Association of Banks in Singapore (ABS), the Singapore FinTech Festival is a week-long event that gathers participants from the global financial community for a series of engaging events including informative conferences on FinTech, Tech Risk and RegTech, workshops, networking events and startup competitions.

Singapore’s FinTech sector is flourishing with the large ecosystem of banks, technology firms and universities that help support its development, and strong government support. The inaugural Singapore FinTech Festival plays a role in bringing together individuals to build relationships, collaborate and create business opportunities to help spur the growth of the FinTech industry in Singapore.

This year, the festival was held from 14 to 18 November 2016, and had close to 11,000 participants from more than 50 countries. Participants included startups, investors, financial institutions, and government agencies.

FOMO Pay was invited to showcase during the two-day conference held on the 16 and 17 November at the Singapore EXPO.

FOMO Pay identified that mainland Chinese consumers are accustomed to paying via mobile wallets such as Alipay and WeChat Pay. However, most retailers outside China have yet to adopt these payment methods and hence, create a spending barrier for these Chinese consumers. As such, FOMO Pay helps online and offline retailers to capture a share of the spending of tourists and online shoppers from the mainland through facilitating payment collection from their preferred payment methods.

‍About FOMO Pay

‍FOMO Pay is the first authorized WeChat Pay & Baidu Wallet partner in Southeast Asia, and was selected as one of the TOP 100 Asian Companies by E27, TOP 100 Startups by Red Herring Asia, and Top 8 by DBS’ FinTech Accelerator Program.

FOMO Pay provides a one-stop solution for overseas merchants by facilitating payment collection from the China market, including Chinese tourists. This comprises of online/offline Chinese payment modes, such as WeChat Pay, Alipay and Union Pay.

FOMO Pay’s business solution serves clients from a wide range of industries, including the telecom, publishing, tourism and hospitality, F&B, education and retail industries.