News Reader

Ran Out Of RMB? S'poreans Could Soon Use NetsPay For Food And Shopping In China

Nets is said to be in talks with WeChat Pay to let users of the NetsPay e-wallet make mobile payments in China, according to “people familiar with the discussions”.

Negotiations are ongoing, and both parties have yet to comment on the potential partnership.

If an agreement is made, NetsPay users will be able to pay in Singapore dollars when shopping and dining in China, by scanning QR codes at stores that accept WeChat Pay.

Nets also announced a partnership with another Chinese financial services firm, UnionPay, last month.

It lets consumers pay through NetsPay at 12 million UnionPay QuickPass contactless points around the world, and more than 7.5 million merchants that use UnionPay’s QR code.

If successful, a partnership with Nets could be the first time a third-party e-wallet ties up with Tencent owned WeChat for cross-border payments in China.

Previously, Tencent began experimenting with electronic payment methods for inland visitors by letting users of WeChat Pay Hong Kong to make payment in Hong Kong dollars.

 

Subscribe to Vulcan Post Newsletter

Stay updated with our weekly curated news and updates.