OCBC and UOB customers can now use their NETS ATM bank cards on the NETSPay app, NETS announced on 18 June.
This will let them make payments with their mobile phones through the app instead of using their physical NETS ATM cards.
Previously, NETSPay was only available to DBS and POSB users when it launched in October 2017.
With the inclusion of OCBC and UOB users, more than 11 million cardholders in Singapore will be able to use NETSPay at more than 105,000 acceptance points island-wide.
No More Keying In PIN Numbers For Purchases Under $100
To make payments, customers scan the NETS QR code or tap their NFC-enabled phone on NETS terminals.
They will not need to key in a PIN number for transactions under $100.
NETSPay users can store up to 10 ATM bank cards on the app, letting them choose between bank accounts to make purchases and track their transactions for each account.
According to NETS, the service is not limited to point-of-sale terminals at retail stores only. NETSPay can also be used as a payment option within some mobile apps and on e-commerce websites.
Since May 2018, users of the AXS m-Station app have been able to pay their bills via NETSPay.
E-commerce merchants that will be offering NETSPay as a payment option include Qoo10, Audio House, NTUC Income, Metro Department Store and Rydesharing.com.
Users can simply scan the QR code on their respective websites to check out.
Is It Like Apple Pay For ATM Cards?
NETSPay is one of many mobile wallets available for electronic payments in Singapore.
What it adds is that it lets you store ATM cards on your mobile phone to make e-payments, the way you could with debit and credit cards.
When asked how NETSPay differs from Apple Pay and Samsung Pay, a spokesperson said NETSPay uses the NETS network, and is compatible with many types of platforms.
However, while QR code scanning works with all mobile devices, NETSPay’s contactless payment is only supported by NFC-enabled Android phones.
Featured Image Credit: NETS
