NETS service to be expanded to Malaysia

NETS has expanded its service into Malaysia, as customers can now use the ATMs similar to the ones in Singapore. According to The Straits Times, the approximate 4,500 NETS acceptance points will be available across Malaysia, namely in shopping malls at Johor Bahru.

As such, NETS-enabled cards issued by Singapore banks DBS/POSB, OCBC and United Overseas Bank will be accepted, the article said. In addition, the use of these cards in Malaysia will not incur currency conversion fees. This comes as NETS and Malaysian payment service provider, PayNet partnered last year in a bid to enable real-time cross-border payments by connecting their respective payment infrastructures. Marketing has reached out to NETS for additional information.

NETS recently has had partnerships with several brands and service providers. Last week, gaming hardware manufacturing company Razer tied up with NETS Group to enable Razer Pay acceptance on NETS unified POS terminals across Singapore, prior to the launch of Razer Pay in Q1 2019. Earlier in October, Dairy Farm Singapore Group and NETS brought China’s e-payment, WeChat Pay, to retail outlets in Singapore, starting with 7-Eleven and Guardian to “better” cater to the growing number of China visitors, by offering visitors a convenient way to pay when they shop in Singapore.

This came as NETS was appointed to unify e-payment solutions across coffee shops, hawker centres and industrial canteens. This was following a call for collaboration by Enterprise Singapore, together with the Housing and Development Board (HDB), National Environment Agency (NEA) and JTC Corporation to implement e-payment solutions. NETS was chosen as it could develop a commercially-viable, inter-operable and open access e-payment solution, Enterprise Singapore told Marketing in a statement.

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