Known virtually to anyone in Singapore, Network for Electronic Transfers Singapore (NETS) has been pioneering the concept of convenient, cashless payment since it was founded in 1985 by the local banks.
Now owned by DBS, OCBC and UOB, NETS, the company has been at the forefront of the Republic's cashless revolution, operating payment networks and driving adoption of electronic payments for more than 20 years.
Today, NETS services are widely used, whether the transaction is at the point of sales, at a car park gantry, over the Internet or on a mobile phone.
By the numbers:
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NETS is available at more than 15,000 merchants and across 35,000 points of access, including retail outlets, schools, government establishments and car parks. |
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80 per cent of commercial car parks in Singapore accept payment by a NETS CashCard |
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There are more than 6.5 million NETS ATM cards in circulation |
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Total annual transactions for all NETS services, including NETS EFTPOS, eNETS and CashCard) rose from 189 million in 2000 to more than 444 million in 2008. This represents almost 1.2 million transactions per day. |
The leader for integrated payment gateways for Asia, NETS is actively pursuing growth opportunities and partnerships across Asia. It is currently working with companies in China, Hong Kong and South-east Asia, to bring the convenience of NETS payment solutions to their markets.
While there have been new entrants into the Singapore electronic payments market, NETS has maintained its lead through the variety of products and services it offers, its pervasive presence and its ongoing deployment of products and services that best fit the needs of the market.
NETS has become an intrinsic part of the Singapore landscape, an achievement that has been realised through the delivery of trusted and reliable products and services over more than two decades.
Our Vision
To be the leading provider of quality and innovative payment and transaction processing services in Asia.
Our Mission
To provide reliable and trusted payment and transaction processing services, enhancing competitiveness and making life great. |
