SINGAPORE - Singapore residents travelling to shop at Paradigm Mall Johor Baru (PMJB) in Malaysia can now go cashless and pay for their purchases using their Nets ATM cards issued by the three Singapore banks.

With the latest collaboration between Nets and payment service provider GHL Systems Berhad (GHL), Singapore consumers can use Nets ATM cards issued by DBS Bank, OCBC Bank and United Overseas Bank to make payments at more than 100 stores at PMJB.

"Singapore residents using the Nets ATM cards in Malaysia are not required to pay currency conversion fees for their purchases, and cardholders will be able to enjoy competitive exchange rates when they use the service," said PMJB and WCT Malls Management in a joint statement on Monday (June 17).

Partners such as Subway, Samsung and Homepro will be accepting this form of payment, among other brands.

Said Ms Selena Chua, chief executive of WCT Malls Management: "We are excited to collaborate with GHL Systems Berhad and Nets to encourage e-payment adoption in Malaysia. With Nets ATM cards, Singapore residents will find it very convenient to do their shopping, dining and other leisure activities in PMJB.

"Nets cards also provide a platform for merchants to facilitate safe, fast and cashless payments for the Singapore residents visiting Malaysia. With this partnership, we are able to provide our patrons with a seamless and enhanced shopping experience."

To use the Nets ATM cards, consumers will need to insert their cards into an acceptance point terminal, and key in their personal identification number (PIN) to complete their transactions.

"This eliminates the hassle of carrying foreign currency, and the risk of running out of Malaysian ringgit," the companies said.

Ms Chua also noted that data from Tourism Malaysia shows that Singapore residents make an estimated 11 million visits to Malaysia annually, and that the greater efficiency brought about by this e-payment method will further encourage visitors to Malaysia, contributing to its economy.

Mr Danny Leong, GHL's group CEO, added that this is a "win-win" for Malaysian businesses and Singapore visitors to Malaysia alike, and that GHL believes the easier payments will lead to more cashless transactions at the Malaysian merchants.