HSBC debit card holders will be able to enjoy the convenience of making Nets payments, starting today.
HSBC is the latest foreign bank, after Standard Chartered Bank and Maybank, to offer the facility.
Nets, Singapore's most widely used payment network, has over 10 million card holders and 87,000 acceptance points across the island.
Eighty per cent of retailers in shopping centres and 60 per cent of neighbourhood retailers accept payments via Nets.
"This allows HSBC debit card holders to tap into Singapore's most widely used payment network, with 10 million card holders," a statement issued by Nets said yesterday.
The Nets Debit service was launched in 1986 to enable participating banks' card holders to pay for purchases electronically at the point of sale.
The network is today one of the most successful worldwide in terms of the number of acceptance points and has played a key role in promoting e-payments across all sectors, including taxis, retail, groceries and bill payments.
Nets chief executive Jeffrey Goh said HSBC debit card holders can now pay for purchases electronically at all Nets acceptance points across the island, including top-up stations at all carparks and transit stations.
Mr Matthew Colebrook, HSBC Singapore's head of retail banking and wealth management, said joining Nets "is a significant milestone for HSBC's retail banking business in Singapore".
"We aim to put our expertise and global reach to work to meet our clients' needs, and the launch of Nets for our debit card holders is a significant step in achieving this strategy," he added.