Network for Electronic Transfers (NETS) has partnered with Singtel and Amazon Web Services (AWS) to enable cross-border digital payments for payment partners in Southeast Asia.
Under the partnership, NETS will leverage Singtel’s advanced ConnectPlus Managed Network and AWS cloud to bolster the expansion and delivery of cross-border payment services.
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Singaporeans can now make purchases at retail outlets abroad, while foreign consumers can do the same at NETS’ merchants in Singapore using overseas e-wallets.
The collaboration will also allow NETS to offer its digital payment services across Southeast Asia.
NETS Group CEO Lawrence Chan said: “We are very excited to embark on this collaboration with Singtel through which NETS will be well-positioned to facilitate cross-border commerce by integrating ASEAN+ travel corridors whilst making payments simple and easy for consumers.
“Furthermore, NETS merchants in Singapore will be able to accept selected overseas partner wallets from visitors in the region, and benefit from operational cost efficiencies by connecting to a broader range of payment partners to provide a better experience for their customers.”
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By GlobalDataSingtel will utilize its software-based network infrastructure to offer high-speed connectivity to the NETS’ regional payment network.
Additionally, the telecom company’s cloud gateway service will allow NETS to implement its virtual private clouds to better manage the network.
Singtel MD Lim Seng Kong said: “Our ConnectPlus Managed Network that will enable NETS to dynamically allocate enterprise resources across multiple locations, optimizing network performance and operational efficiency to offer secure, swift and reliable cross-border financial transactions.”
In addition to Singtel’s network infrastructure, NETS will also leverage AWS cloud services like database, containers, serverless storage, and security.
AWS MD for ASEAN Conor McNamara said: “NETS has been a leading payment services company for over 30 years.
“We look forward to collaborating with them to innovate new services faster, maintain operational excellence, and provide secure and seamless payment services to customers around Southeast Asia.”
