Asian Dragons Rising Series to Showcase NETS Success Story


Singapore, 5 Jun 2008 – Singapore’s leading electronic payments provider NETS will be featured in Channel NewsAsia’s upcoming television series, ‘Asian Dragons Rising’, a weekly half hour programme series. The first episode of this series, which features success stories of leading Singapore multi-national companies, will be aired on 19 June 2008. The programme will be a good platform for viewers to learn about NETS’ growth and development.

“We are excited to be featured in this widely watched series as we are keen to share our achievements with viewers across the region. With 23 years of success in providing a broad range of innovative and quality payment services, NETS has been making life great for our consumers through convenient, smart and easy-to-use services," said Chief Executive Officer, Poh Mui Hoon.

Since the company’s inception in 1985, NETS has grown into a trusted household brand name, recognised for helping consumers to be smart and prudent. Today, NETS processes up to 700,000 transactions daily at over 35,000 points of acceptance, offering Singaporeans a convenient, safe and secure mode of payment.

In 1996, NETS introduced the NETS CashCard, a micro-payment solution that has become the most widely used tool for motoring and retail applications in Singapore. The uses of this smart card can also be extended to the public transport sector when the government liberalises the market.

In 2001, NETS went digital and launched eNETS, Singapore’s largest online payment gateway, allowing users to make online payments using a virtual bank account, debit or credit card.

Gearing up for mobility, NETS introduced mNETS in 2007, allowing consumers to make payments using their mobile wireless devices such as mobile phones and PDAs, riding on Near Field Communications (NFC) technology. NETS is also currently conducting trials to introduce Asia’s first over-the-air top-up application that will allow users to top up their mobile wallet wirelessly.

Beyond Singapore, NETS is part of ASEANPay, a six-member group of regional electronic payment operators. ASEANPay looks at the definition and implementation of common standards for e-payment inter-operability among member countries, as part of a cross-border collaboration framework, catering to products and services like ATM, EFTPOS and remittance transactions.

Such milestone initiatives will help to highlight NETS as a successful and innovative ‘Asian Dragons Rising’ company from Singapore in this informative television series.

“With this programme, viewers will get a chance to better understand NETS’ mission and services. The NETS’ story could also inspire other local companies to strive towards being bolder and more innovative to better serve consumers, both in the local, as well as regional markets,” added Ms Poh.