Media Releases

UnionPay International and NETS enter into strategic partnership with major NETSPay app upgrade

  • NETS services will be available outside of Singapore for the first time
  • Enhanced NETSPay app comes with a wallet feature that allows users to use the mobile app to pay at over 7.5 million UnionPay QR code merchants and close to 12 million UnionPay QuickPass contactless acceptance points
  • Enhanced NETSPay app also allows users to send or receive money via mobile numbers or QR code, and send e-angbaos to loved ones
  • NETSPay can be used for QR code payments in Singapore, including SG QR

SINGAPORE, 11 September 2018 – Singapore consumers can now use the NETSPay app to make e-payments when they travel overseas, thanks to a new partnership between Singapore’s leading payments solutions provider NETS and global payment network UnionPay.

The enhanced NETSPay app comes with a new wallet feature that enables consumers to scan and pay for purchases at over 7.5 million UnionPay QR code merchants globally. They can also make contactless payments using their near-field communication (NFC) enabled smartphones at close to 12 million UnionPay QuickPass contactless acceptance points without the need to use foreign currencies (cash) when travelling.

The enhanced NETSPay app also offers a number of new features. In addition to overseas payments, users can send money to or receive money from other NETSPay users via mobile numbers or QR code. In addition, those looking to send gifts to family or friends can send e-angbaos (or electronic red packets) to their loved ones using the app. This is in addition to QR code payments in Singapore, including SG QR.

"This partnership between UnionPay and NETS is significant on several levels. First – the launch of the enhanced NETSPay app affirms our commitment to providing innovative payment products and services that can enable greater convenience and ease of payment for local consumers and businesses. Second – the enabling of NETSPay acceptance at UnionPay QR code merchants and UnionPay QuickPass contactless acceptance points around the world will allow local NETS users to make QR code and contactless payments everywhere they go, including at key destinations such as Australia, China, Hong Kong, Japan, Malaysia, South Korea and Thailand when they travel overseas," said Wenhui Yang, General Manager for UnionPay International South East Asia.

The partnership comes on the heels of a recent survey that ranked NETSPay as one of the top 3 most frequently used mobile wallet apps in Singapore.[1] NETS Group CEO Jeffrey Goh added that NETS is always looking for new ways to make cashless payments seamless for its users. Mr Goh shared, “Working with a leading global partner such as UnionPay is part of our efforts to make NETS services seamless for our Singapore consumers. Now whether you’re shopping in Shanghai or paying for your chicken rice at your favourite hawker stall in Singapore, all you need is NETSPay.”

The enhanced NETSPay app is available for download from the Apple App Store and Google Play Store.

[1] J.D. Power 2018 Singapore Retail Banking Satisfaction Study.