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FOMO Pay Teams Up with Mastercard to Enable Contactless Card Acceptance through FOMO SoftPOS

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SINGAPORE, Nov. 8, 2024 /PRNewswire/ — FOMO Pay, a leading Singapore-headquartered major payment institution, has announced a strategic collaboration with Mastercard to launch its Tap on Phone payment solution, FOMO SoftPOS. This solution allows merchants to accept contactless card payments directly on their smartphones[1] with the FOMO Pay app from the Google Play Store. This solution provides customers with more payment options while giving merchants greater flexibility and mobility as multiple smartphones can be activated for use as needed. 

Singapore is the first country in Asia-Pacific where Mastercard will introduce Cloud Commerce, empowering local payment providers like FOMO Pay to build cloud-based products. Mastercard’s Cloud Commerce is a cloud-based payment solution that lets merchants process transactions on mobile devices without needing physical POS terminals. By leveraging cloud technology, it reduces hardware dependency, streamlines setup, and offers flexible, scalable payment options. This empowers businesses to accept payments anywhere with internet access, meeting the demands of today’s digital-first consumers. With Mastercard, FOMO Pay is able to bring Tap on Phone solutions to merchants, and offer the technology to banks and financial institutions who want to roll out their own branded SoftPOS.

While over 90% of Singaporeans use contactless payments, small and medium-sized enterprises (SMEs) are slower to adopt them. Only 50% of SMEs accept mobile wallets, and 36% accept contactless cards, largely due to a reluctance to maintain payment hardware.

Tap on Phone solutions can cut these costs by over 90%, making card payments more accessible for SMEs. This innovation will bring millions[2] of new acceptance points for card payments in Asia.

Merchants can download the FOMO SoftPOS app and accept a wide range of payment methods, such as QR payments, mobile wallets, and credit cards. Use cases of the Tap on Phone solution include pop-up stores, food trucks, taxis, pay-on-delivery services and more. In addition to merchants, banks and financial institutions can also leverage the Tap on Phone  technology and provide their own contactless payment solutions to their merchants.

Louis Liu, founder and CEO of FOMO Pay, said, “Tap on Phone solutions offer an affordable, portable, and hassle-free way for businesses to accept payments, enhancing operational efficiency and customer satisfaction. Our FOMO SoftPOS empowers more businesses to accept payments using their own mobile devices, driving financial inclusion and supporting the growth of SMEs. Mastercard Cloud Commerce is central to this mission, helping us create scalable solutions that address the needs of today’s fast-evolving digital economy.”

Ms Deborah Heng, Country Manager, Singapore, Mastercard, said: “Accepting payments through traditional methods can be challenging for small businesses. Smartphone-based payment solutions lower cost of acceptance and simplify onboarding, making the payment process smoother and more efficient. Mastercard Cloud Commerce will advance payment solutions and help small businesses unlock the benefits of digital payments, while offering their customers a simple and secure payment experience.”

[1] Only available for Android devices (Android 12 onwards) with NFC capabilities.

[2] https://seads.adb.org/solutions/realizing-potential-over-71-million-msmes-southeast-asia 

About FOMO Pay
Founded in 2015, FOMO Pay Pte Ltd is a major payment institution licensed in Singapore and Hong Kong. The firm has become a leading one-stop digital payment, digital banking, and digital asset solution provider. It is currently building Asia’s fully licensed financial platform, helping institutions and businesses connect between fiat and digital currency. The firm offers its three flagship products:

FOMO Payment – One-stop digital payment solution for merchants, corporates and financial institutionsFOMO iBank – Facilitate businesses’ everyday requirements for transactional banking needsFOMO Treasury – One-stop digital asset services provider bridging Web 2.0 & Web 3.0

Visit www.fomopay.com for more information. For media inquiries, contact marketing@fomopay.com

About Mastercard
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.

www.mastercard.com

 

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SOURCE FOMO Pay

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Ecobank Partners with Nium to Unlock Real-Time Cross-Border Payments Across 35 African Markets

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Nium announces its partnership with Ecobank, a pan-African financial solutions leader, bringing real-time cross-border payments to 35 markets on the continent

SINGAPORE, Nov. 7, 2024 /PRNewswire/ — Nium, the leading global infrastructure for real-time cross-border payments, today announced a partnership with Ecobank Transnational Incorporated., the leading independent pan-African financial services group, to enable seamless cross-border payments across 35 African markets for more than 32 million customers. This partnership is set to revolutionise the region’s payments landscape by enabling faster, more efficient international payments for businesses and consumers alike.

Nium’s real-time payments infrastructure will be integrated into Ecobank’s existing banking operations, empowering Ecobank to enhance its services for small and medium-sized enterprises (SMEs). Ecobank will connect its existing Swift workflows to Nium, gaining access to real-time transfers, updates, clearing, settlement, and payment tracking, without the need for complex API integrations. This will significantly reduce waiting times for cross-border payments, enabling businesses to make faster payments to over 220 markets, including over 100 countries with real-time capabilities.

Ecobank is a critical financial partner in sub-Saharan Africa. Through this partnership, Ecobank’s customers across the region will benefit from an enhanced payments experience that allows faster and more efficient cross-border transactions, unlocking new opportunities for SMEs to connect with global markets.

Anupam Pahuja, General Manager and Executive Vice President for APAC, Middle East and Africa at Nium, said, “We are thrilled to partner with Ecobank and introduce Nium’s cutting-edge real-time payment capabilities to Africa. This collaboration represents an important step forward in expanding our global payments network, and we are proud to support Ecobank in delivering faster, more efficient payments for its customers across the region.”

“Partnering with Nium allows us to enhance our service offerings and provide our customers with faster, more efficient cross-border payment solutions. By leveraging our unique API-based payment platform, this collaboration is a significant step towards advancing financial inclusion and connectivity across Africa and enabling businesses to thrive in a global marketplace,” said Jeremy Awori, CEO of Ecobank Group.

Ecobank can exchange its existing SwiftMT & ISO20022 messages with Nium to initiate payments on the real-time platform, accelerating business growth and improving the speed and accuracy of cross-border payments for African businesses.

The partnership also aligns with Nium’s broader strategy to enhance global financial inclusion, enabling access to real-time payments in regions where traditional banking systems may be slow or unreliable. Through this collaboration, Ecobank is now better equipped to provide an unmatched cross-border payment experience for its customers, while Nium continues its mission to democratize access to the world’s largest real-time payments network.

About Nium

Nium, the leading global infrastructure for real-time cross-border payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the global economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 220+ markets, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 40 markets. Nium’s growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorisations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore. 

About Ecobank Group (or ‘Ecobank Transnational Incorporated’ or ‘ETI’)

Ecobank Group is the leading private pan-African financial services group with unrivalled African expertise. Present in 35 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment. The Group employs almost 15,000 people and offers Consumer, Commercial, Corporate and Investment Banking products, services and solutions across multiple channels, including digital, to over 32 million customers. For further information, please visit ecobank.com

Logo: https://mma.prnewswire.com/media/1678669/5010242/Nium_Logo.jpg

 

View original content:https://www.prnewswire.co.uk/news-releases/ecobank-partners-with-nium-to-unlock-real-time-cross-border-payments-across-35-african-markets-302298456.html

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BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets

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WILLEMSTAD, Curacao, Nov. 7, 2024 /PRNewswire/ — Following the frenzy surrounding the 2024 U.S. presidential election, global leading crypto igaming platform BC.GAME has officially announced an exciting airdrop campaign aimed specifically at Polymarket users. This initiative will bring BC.GAME’s gaming entertainment together with the wisdom of Polymarket users, offering a much-needed opportunity for those who actively participated in the election prediction market.

Airdrop Frenzy Amid the Hype: Special Rewards for Polymarket Users

Following the intense activity during the 2024 U.S. presidential election, Polymarket saw an unprecedented surge in user participation. Thousands of individuals placed bets on the election results, turning this prediction market into a major financial event.

To capitalize on this momentum, BC.GAME is launching an exclusive airdrop for Polymarket users. The campaign will reward active participants with exclusive prizes and access to BC.GAME’s expansive gaming ecosystem, creating an exciting opportunity for those who took part in one of the most talked-about prediction markets in history.

For detailed information about the airdrop, please follow BC.GAME’s official Twitter here.

Exclusive Airdrop: A Chance to Turn the Tide

The BC.GAME airdrop campaign will offer Polymarket’s active users unique rewards, creating an exciting and unparalleled experience in the crypto gaming space. By leveraging the buzz surrounding Polymarket, BC.GAME aims to bring its innovative gaming ecosystem to more users, giving them the opportunity to earn substantial rewards through this airdrop. Polymarket users will not only enjoy exclusive games on the BC.GAME platform, but also have the chance to claim specially designed rewards. The BC.GAME team guarantees a transparent and fair process throughout the event, ensuring that every participant receives maximum benefits.

BC.GAME: Igniting the Future of Crypto Communities

BC.GAME has always been at the forefront of innovation, providing users with a never-before-seen gaming experience. According to data from 1ml.com, BC.GAME is ranked 14th globally in the crypto gaming space and supports hundreds of cryptocurrencies, including Poly, providing users with diverse payment and gaming options.

In addition, BC.GAME actively participates in the development of the crypto community by investing in NFTs and supporting the growth of the metaverse. For example, BC.GAME has invested 700 ETH into various NFT projects to foster growth in the metaverse and iGaming sectors. By engaging with Polymarket users, BC.GAME is lighting up new possibilities in the crypto world and paving the way for the future of digital entertainment.

About BC.GAME

BC.GAME is a leading global crypto gaming platform that offers a wide variety of games and a decentralized service model at its core, earning the trust and love of users worldwide. With unparalleled innovative technology and a user-centric philosophy, BC.GAME has become a major player in the blockchain entertainment industry. BC.GAME will continue to deliver more innovative products and exclusive rewards to global crypto enthusiasts, injecting limitless possibilities into the gaming experience.

View original content to download multimedia:https://www.prnewswire.com/news-releases/bcgame-launches-exclusive-airdrop-for-polymarket-users-rewarding-participation-in-us-election-prediction-markets-302299647.html

SOURCE BC.GAME

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Huawei Launches the Latest 5G-A Solutions for the Mobile AI Era

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ISTANBUL, Nov. 8, 2024 /PRNewswire/ — At the Global Mobile Broadband Forum 2024 (MBBF 2024), Cao Ming, Vice President of Huawei and President of Huawei’s Wireless Solution, launched 5G-AA solutions. Cao said: “Mobile AI is changing our lives. The arising new connections and services pose increasingly higher requirements on networks. Huawei’s 5G-AA 10 solutions build multidimensional ultimate network capabilities through the full-series Advanced Radio, enable full-domain site digitalization through Ambient Site, and achieve L4 network autonomy through the Agent-based digital engineers team. With such excellent performance, these solutions will help operators meet the ever-diversifying demand for services in the Mobile AI era.”

Huawei’s 5G-AA solutions will deepen the convergence of 5.5G and AI through ‘Networks for AI’ and ‘AI for Networks’. ‘Networks for AI’ will enable networks to possess the sufficient capabilities that are required to address differentiated service requirements and improve both network performance and user experiences. ‘AI for Networks’ will equip networks with L4 autonomy through digital sites and RAN Agents. Operators can use these solutions in a wide range of scenarios to sustain their leading positions.

1. Sub-1 GHz Massive MIMO builds a ubiquitous foundation layer for Mobile AI. Sub-1 GHz Massive MIMO provides an innovative solution to many technical challenges to meet the general deployment requirements of site engineering, bringing Massive MIMO to low bands. While providing extensive coverage, low-band Massive MIMO improves downlink, uplink, and low-latency experiences. It supports full access from all RATs, full IoT connectivity, and full real-time service guarantee.

2. Unique sub-6 GHz all-band integration in one box enables simplified single-antenna Massive MIMO deployment. Blade AAU X is the industry’s first product that uses a single antenna to support Massive MIMO deployment across all sub-6 GHz bands. Unlike other Massive MIMO modules, this product can be deployed on a single pole, and requires 50% less site space and 70% lower OPEX. It supports GHz-level bandwidth with one pole, maximizing spectral efficiency.

3. The industry’s first unique U6GHz AAU ensures continuous 10 Gbps. The U6GHz AAU integrates more than 1,500 antenna elements and uses leading MU-MIMO algorithms. With the collaboration of such leading hardware and software, it supports a capacity of up to 100 Gbps and speeds of up to 10 Gbps. It enables coverage to be aligned with C-band to ensure uninterrupted Gbps experiences indoors.

4. LampSite introduces Passive IoT (P-IoT) for the first time to upgrade digital intelligence indoors. LampSite X supports both indoor 10 Gbps and P-IoT access. It can be deployed in half the time and allows asset stocktaking to be done daily, instead of monthly, compared with other solutions.

5. The industry’s lightest AAU enables simplified mid-band deployment with a huge bandwidth. EasyAAU is the industry’s lightest AAU product, weighing half of an 8T RRU model. This enables it to be deployed on walls in urban areas and poles in rural areas to quickly provide 5G coverage. The delivery time is 40% shorter and the capacity can also be doubled.

6. The industry’s first microwave-antenna integration overcomes antenna installation challenges. Integrated antenna and microwave (IAM) houses antennas and E-band microwave units in one box, which reduces single-box weight by 30% and the space needed for installation by 50%. The antenna also supports all-beam auto-seeking, which helps reduce maintenance costs.

7. The industry’s first full-duplex microwave upgrades transmission capacity. The industry’s first full-duplex microwave, MAGICSwave, uses super-isolated antennas and interference cancellation algorithms to double spectral efficiency. It has a capacity of up to 50 Gbps, allowing operators to navigate the huge demand for data transmission in the Mobile AI era.

8. The industry’s first one-box rural network solution helps narrow down the connection gap in rural areas. RuralCOW represents an upgrade from RuralStar and RuralLink. By integrating fronthaul units and radio units into one box, it can be deployed without needing backhaul, BBU, and main power supplies. This significantly reduces the site costs of multi-RAT deployments in remote areas and suburbs.

9. Agent-based digital engineers team enables higher-level network autonomy. Based on the intelligent RAN Agent, the Agent-based digital engineers team has been incubated, which includes four digital experts that perform unattended maintenance, real-time network optimization, 24/7 energy saving, and accurate service provisioning evaluation.

10. Unique full-domain digital sites enable visualized site-level sensing and control. Ambient Site links a site’s main equipment with its antennas, power supplies, and transmission devices, helping realize full site digitalization. This enables networks to improve energy saving and user experiences.

“Mobile AI is on the horizon. We will continue to work with all industry partners and innovate to promote the integration of 5.5G and AI,” concluded Cao.

Photo – https://mma.prnewswire.com/media/2550006/Cao_Ming__Vice_President_of_Huawei_and_President_of_Huawei_s_Wireless_Solution__launching_5G_A_solut.jpg

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