Nets offers services overseas via tie-up with UnionPay

Electronic payments network Nets will make its services available outside of Singapore for the first time via a strategic partnership with China's UnionPay International.

Under the tie-up, Singapore consumers can use the NetsPay app to make payments at more than 7.5 million UnionPay QR code merchants globally. The NetsPay app will also enable payment at almost 12 million UnionPay Quick Pass contactless acceptance points without the need to use foreign currencies when travelling.

Nets, which is owned by Singapore's major local banks, has also enhanced its app to allow fund transfers between NetsPay users via mobile numbers or QR code.

Mr Yang Wenhui, general manager for UnionPay International South-east Asia, said the tie-up "will allow local Nets users to make QR code and contactless payments everywhere they go, including at key destinations such as Australia, China, Hong Kong, Japan, Malaysia, South Korea and Thailand".

Nets, which is owned by Singapore's major local banks, has also enhanced its app to allow fund transfers between NetsPay users via mobile numbers or QR code.

A version of this article appeared in the print edition of The Straits Times on September 12, 2018, with the headline 'Nets offers services overseas via tie-up with UnionPay'. Print Edition | Subscribe