Milestones

2017
Oct 2017

Launch of NETSPay – a digital payment app enabling customers to digitise their NETS ATM Bankcard on their mobile phones for payments at NETS terminals.

Sept 2017

Tanjong Pagar Hawker Centre becomes the first QR code payment hawker centre in Singapore with its acceptance of the NETS QR code payment system.

Apr 2017

NETS acquires Banking Computer Services Private Limited (BCS) and BCS Information Systems Pte Ltd (BCSIS).

With the acquisition, the NETS Group now provides a full suite of payments and financial processing services including direct debit and credit payments at point-of-sale (NETS) and online (eNETS), mobile payments (NETSPay), card services (CashCard, FlashPay card), electronic funds transfer (FAST, PayNow, GIRO) and cheque processing services (CTS).

2016

Locally and globally-issued JCB cards accepted on the NETS network

2015

HSBC joins and the NETS network

Launch of vCashCard allows motorists to pay for the ERP changes using their credit/debit or via the bank account without the need for a physical stored-value card.

2014

Maybank joins NETS Network.

Launch of Alipay FlashPay Transport Card
The first overseas transport card for Chinese tourists that can be purchased right off Alipay Wallet, Alipay’s mobile wallet, prior to arriving in Singapore. The card can be used on all local transit and taxis as well as at all NETS acceptance points island-wide.

2009

Launch of NETS FlashPay Card, a contactless card that can be used for payments at food courts, convenience stores, supermarkets, public transportation, ERP and CEPAS-compliant car park charges and at all NETS acceptance points island-wide.

2005

Acceptance of China Union Pay cards in Singapore enables millions of Chinese visitors to use their credit and debit cards to make purchases at all NETS acceptance points island-wide.

2002

Standard Chartered joins the NETS network

2001

eNETS was launched, enabling consumers to make online payments via direct debit or credit card at several merchants including for Singapore government services, airlines bookings, bill/fine payments at AXS m-station and purchases on Taobao.com and Tmall Marketplace.

1996

The CashCard was the first electronic legal tender or cash wallet in the world. It was adopted as the sole payment mode for Singapore’s road toll payment system in 1997 with the introduction of the in-vehicle unit.

1986

The NETS debit service was launched, marking the first time in Asia that customers could make purchases at stores with just an ATM card and PIN.

1985

NETS was founded by Singapore’s leading local banks - DBS Bank Ltd, Keppel Bank, OCBC Bank, OUB, POSB, Tat Lee Bank and United Overseas Bank Limited, to establish a debit network and drive the adoption of electronic payments in Singapore.