NETS

Since 1985, consumers and merchants in Singapore have adopted NETS as an efficient and secure method for paying and being paid. With 1 in 3 people using NETS for their everyday purchases, NETS has woven itself into the lives of Singaporeans as they travel, dine, shop and pay their bills across 95,000 acceptance points nationwide. Throughout the years, NETS’ suite of payment solutions has been introduced progressively to address the changing needs of Singapore and her people. With the introduction of the NETS debit service, Singapore took the first big step towards cashless payments. It marked the first time bank cardholders could pay with just a card and PIN. The NETS debit infrastructure now enables 10 million debit cardholders from DBS, POSB, OCBC, UOB, Maybank, Standard Chartered and HSBC banks to use their cards for everyday payments. At the NETS Card Centre, which is an ISO 9002, VISA and MasterCard certified centre, we personalise more than 4 million cards a year, including ATM, AMEX, Visa, MasterCard cards as well as CashCard and FlashPay cards. Fulfilling the dual roles as an acquirer and an issuer in the payments industry, NETS issues the CashCards and FlashPay cards. NETS also processes online payments via direct debit or credit cards via its eNETS service. In addition, we also enable merchants to automate their payment collection process and provide their customers with 24/7 payment options with the NETS Self-Service Stations. NETS provides local and regional ATM switching services for banks. We enable cross-border ATM cash withdrawal services for OCBC cardholders at all Malaysian Electronic Payment System (MEPS) ATMs across Malaysia, and ATM cash withdrawal services for UnionPay cardholders at UOB and OCBC ATMs in Singapore. NETS is owned by Singapore’s largest banks, DBS Bank, OCBC Bank and United Overseas Bank (UOB). We are a member of the Asian Payment Network (APN) and a council member of UnionPay International.