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Singapore Consumers Now Able To Make Direct Debit Payments For Purchases On Taobao Marketplace And Tmall.com

Partnership between eNETS and Alipay allows Singapore consumers to shop directly using local currency from popular Chinese websites

Singapore — Consumers in Singapore can now shop with ease on China’s largest online shopping websites Taobao Marketplace and Tmall.com more easily thanks to the introduction of eNETS direct debit via Alipay, the principal means by which sellers and buyers settle transactions on both platforms.

The eNETS partnership is part of Alipay’s commitment to growing the e-commerce online payment ecosystem in Singapore and Southeast Asia. The collaboration means that, from now on, eNETS users can choose to pay via eNETS directly when they purchase items from sellers on both platforms in their local currency.

eNETS direct debit is a real-time transaction requiring consumers to authenticate the transaction using his Internet Banking UserID and PIN as well as bank token, making it a highly secure payment method. It is used by the majority of Internet banking users in Singapore for online purchases and bill payments.

Mr Ang Sok Hong, Senior Vice President, Sales, NETS said: “Singapore consumers are a savvy bunch – they know what the latest trends are and where to get the best deals. So it’s no surprise that they are turning more and more to the web to get the latest products. eNETS has always been about making secure payments easily. Given Taobao Marketplace and Tmall.com’s popularity amongst Singapore consumers, it was only natural for us to partner with Alipay to see how we could make payments on these sites even easier for our customers.”

“Alipay is committed to providing users with online payment channels that align with their payment habits. eNETS has a strong user base in Singapore and we are delighted to work with them to bring our local consumers an enhanced shopping experience,” said Griffin Peng, Head of Business Development for Alipay in Southeast Asia and Australia.

When a payment is settled through eNETS for purchases on Taobao Marketplace or Tmall.com, the transaction amount is converted from Chinese yuan to Singapore dollars based on a system-generated daily exchange rate. The ceiling amount for any single transaction is SGD2,000 and SGD3,000 for daily transactions.

Jean Zhang, an avid Taobao shopper in Singapore who shops online every week said, “This new service is just what I’ve been waiting for! Taobao offers great deals but it’s sometimes difficult for me to buy stuff because the payment options are quite limited. Now with eNETS, I can make payment easily.”

Online shopping is gaining popularity in Singapore. According to the Infocomm Development Authority of Singapore, some 50 per cent of Internet users aged 15 years and older shopped online in 2011, up from only 17 per cent in 2003.

Partnership between eNETS and Alipay allows Singapore consumers to shop directly using local currency from popular Chinese websites