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24/04/2017 Banking Innovation

About

One-stop Online and Offline Alternative Payment Solution

Innovation presentation

FOMO Pay enables merchants to provide a full suite of Alternative payment methods including WeChat Pay, Union Pay, Baidu Wallet, Apple Pay, Samsung Pay and many more to their customers.

We are inspired to create a global cashless society where local mobile payment solutions can be utilised anywhere in the world through our aggregation. Due to our unique value proposition, we managed to onboard hundreds of merchants in less than a year and transaction volumes has since been growing immensely.

From setting up to accepting transactions, it will only take our merchants a matter of 5 minutes. Accepting transactions are also extremely efficient, needing only 5 seconds each time. As we continuously add payment methods into our line-up, merchants get the benefit of adding them with little marginal effort. Traditionally they may have to source and approach the payment modes individually, with FOMO Pay, it's once and forever.

Uniqueness of the project

FOMO Pay is unique as we allow merchants to start collecting payments from a whole new market with the following 3 main value propositions that make us a disruptive innovation:

Fast and Easy set up - From setting up to accepting transactions, it will only take our merchants a matter of 5 minutes. Accepting transactions are also extremely efficient needing only 5 seconds each time.

One-stop Solution - Only player in the market that is able to offer a one-stop solution for the all major alternative payments especially in the context of Chinese payment solutions. This is as opposed to working with different providers, integrating with different API/SDK and negotiating different rates individually.

Continual Upgrades - As we continuously add payment methods into our line-up, commercial clients get the benefit of adding them on with little marginal effort. Traditionally they may have to source and approach the payment modes individually, with FOMO Pay, it's once and forever.

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