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September 14, 2018

NETS partners with UnionPay to facilitate overseas payments

Singaporean payments services group NETS has entered into a partnership with UnionPay International.

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The partnership will enable its customers carry out e-payments in foreign country.

Under the partnership, NETS’ e-wallet product NETSPay has been upgraded with UnionPay’s standards and technologies.

Now, all NETS customers can download the upgraded app to carry out UnionPay mobile payment services within the country as well as when they are in a foreign country.

The upgraded NETSPay app supports various new features. All users now can make contactless payments utilising their near-field communication (NFC) enabled smartphones at all UnionPay QuickPass contactless acceptance points.

They can also send or receive money from other users by scanning the QR code or via their mobile phone numbers.

UnionPay International general manager for South East Asia Wenhui Yang said: “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.”

The upgraded NETSPay app can be downloaded from Apple and Google stores.

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Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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