NETS launches mobile wallet app today

This article is more than 12 months old

Oct 20, 2017 06:00 am

E-payment stalwart NETS is launching its mobile wallet app today - paving the way for millions of ATM card users here to make NETS payments with just their phones.

Observers say the move by the e-payment provider is a step towards the setting up of the unified cashless payment system Prime Minister Lee Hsien Loong spoke about at the National Day Rally.

His remarks on Aug 20 fired the starting gun for a race in which e-payment firms are battling to be the one to unite fragmented platforms and reach all strata of society, including hawkers and heartland shops, where cash is king.

ACCEPTED EVERYWHERE

NETS chief executive Jeffrey Goh yesterday made no bones about the company's ambitions for its app: "We call NETSPay 'the payment app that can' because it effectively solves Singapore's cashless conundrum - having one wallet that is accepted everywhere."

The app lets users digitise their ATM cards, so payments can be debited directly from their bank accounts by tapping their mobile phones on a contactless payment reader or by scanning a QR code. - THE STRAITS TIMES