SINGAPORE • OCBC Bank and United Overseas Bank (UOB) customers can now digitally store their Nets ATM bank cards on the NETSPay mobile app, Nets announced yesterday.
This allows them to make Nets payments through their mobile phones instead of using their physical Nets ATM bank cards.
NETSPay, which was unveiled in October last year, was available to only DBS/POSB customers at its launch. With OCBC and UOB on board, more than 11 million card holders in Singapore can now use NETSPay at over 105,000 acceptance points islandwide, including some 60,000 Nets QR acceptance points, said Nets.
To use NETSPay, customers simply scan the Nets QR code or tap their NFC-enabled phones against the Nets terminals at retail stores. NETSPay will enable payments to be debited directly from the customer's bank account. Users can store up to 10 ATM bank cards on the app, allowing them to choose between bank accounts for different purchases and track their transactions by bank account, Nets said.
Also, NETSPay users are not just limited to making QR code or contactless payments at retail stores. It is also available as a payment option within mobile apps (such as AXS m-Station) and for online QR-code payments at e-commerce websites, such as Qoo10, Audio House, NTUC Income, Singapore Mint, Metro Department Store and Rydesharing.com.
10 Number of ATM bank cards NETSPay users can store on the app, allowing them to choose between bank accounts for different purchases and track their transactions by bank account.
When asked how NETSPay differs from ApplePay and Samsung Pay - both already allow users to digitally store their Nets-supported bank cards - a NETSPay spokesman said it is platform agnostic, which means it is compatible with many types of platforms, and uses the Nets network, and can be used at hawker centres.