Bangkok--4 Feb--Fleishman-Hillard
NETS Launches Singapore’s First Integrated Platform For Payment Through Multiple Channels iNETS platform enables Singaporeans to make fast, easy and secure payments across mobile phones, kiosks and other emerging channels Launch of iNETS platform is aimed at meeting the growing demand for self-service payments Service launch also comes with a “iNETS Pays Your Bills” Promotion
NETS, Singapore leading electronic payments provider, today announced its iNETS service, a multi-channel platform that will enable consumers to make fast, easy and secure payments through their preferred channel.
At launch, iNETS will be available over kiosks and mobile phones, with other emerging channels to follow. Designed to provide a consistent payment experience across channels, consumers will find iNETS easy to use. This latest offering is in line with NETS? aim of driving Singapore towards greater use of electronic payments.
The iNETS service also breaks new ground as Singapore first integrated payment platform that aggregates services offered by banks and financial institutions, telecommunications operators, merchants and other organisations to follow. NETS offers a single point of contact for these organisations to maximise their distribution across different channels, thereby increasing productivity and sales opportunity.
iNETS marks the company entry into Singapore?s self-service payment sector, which sees about 60 million bills processed each year. Only one-third of the bill payments market is now addressed by the current self-service providers, with the rest being transacted through cash, cheques and electronic payment modes. NETS expects its integrated platform to resonate well with the consumers.
NETS Chief Executive Officer, Ms Poh Mui Hoon, said: “There is still a sizeable number of payment transactions that are not being paid electronically. There is also increasing demand from consumers and merchants for more self service choices at payment counters so that it will deliver better productivity and convenience. We aim to tap a significant portion of this market segment. iNETS also adds to our growing list of innovative services that promotes Singapore?s drive to encourage electronic payments as a way of life.”
With iNETS, customers can now pay for everyday services such as credit card, phone, utility and household bills, bank loans, and movie tickets ?anytime, anywhere? using their desired channel. For a start iNETS service will offer bills and ticket payments services to more than 10 billers. (See Appendix A) NETS plans to expand its range of services over the next few months. It is now working towards enabling iNETS payments for airline tickets and tours; F&B, motoring services and insurance; as well as for prepaid top-ups, digital content, e-books and games. NETS is also planning to deliver these services on new channels such as set-up boxes and ATMs.
NETS Broadens Payment Choices
Currently, iNETS kiosks will serve as an essential and complementary infrastructure to support NETS FlashPay purchase and the top up of the NETS CashCard and NETS FlashPay card.
To enhance flexibility and payment choices, consumers can make payments at iNETS kiosk using NETS FlashPay, NETS CashCard and NETS Debit. Alternatively, consumers can use their mobile phones for bill payments with NETS Cheque, and ticket payments with credit cards. Going forward, NETS will also explore other payment choices for consumers.
NETS Cheque is an innovative payment instrument that gives mobile users, for the first time, the ability to issue a virtual cheque to pay for their bills. A one-time registration process will link the customer nominated bank account to his mobile phone. Thereafter, the customer can issue virtual cheques by keying in a secure PIN. The transaction is processed by the banks using the standard Direct Debit Authorisation (DDA) arrangement.
Mr Sanjiv Sharma, a pilot iNETS user, said: "Whenever I need to pay, my first payment preference has always been the standard NETS debit card. After that, the NETS FlashPay card was introduced which made life so much easier. I looking forward to iNETS. Mobile payments would definitely take things to a different level altogether!"
StarHub Vice President of Finance Billing, Credit Control and Receivables, Mr Chow Yew Tee, said: “The mobile phone is no longer just a device for voice and SMS. Now, with a wide range of smart phones in the market, customers are often using it for many other online activities including bill payment. We are pleased to partner NETS in this initiative to provide added convenience to our customers. The application will empower our customers to make bill payments for StarHub services through their mobile device at any time and any place in Singapore. This will in turn help us improve the overall experience of our customers.”
The Managing Director of Metro Parking (S) Pte Ltd, Mr Tyrone Lopez, said: “iNETS will bring even greater convenience to our clients and customers. They will now be able to easily pay for or renew their season parking through the mobile phone or at kiosks all over the island."
iNETS Pays your Bills
To celebrate the launch and encourage payments using the iNETS service, NETS is running an "iNETS Pays Your Bills" promotion over the next three months. All iNETS registered users who make a minimum bill payment of $30 via iNETS kiosk or iNETS mobile, stand a chance to have their bills paid by iNETS.
In addition, NETS will be hosting roadshows in conjunction with the Lunar New Year celebrations. Customers who turn up and make bill payments of S$30 or more at iNETS kiosks there, or register their details on iNETS mobile, will receive instant Ang Baos , while stocks last.
About NETS
NETS (Network For Electronic Transfers Singapore Pte Ltd) was founded in 1985 to operate and manage an online debit payment service pioneering Singapore?s shift to a cashless society. It has since grown to a multi-service organisation, providing a comprehensive range of electronic payment services.
Based in Singapore, NETS is relentlessly developing new payment solutions as it aims to be the preferred world-class solutions provider for payment and processing services, accepting multi-media and multi-channel transactions on behalf of companies, institutions and individuals worldwide. With a growing range of payment services that works seamlessly across mobile, wireless and physical arenas, NETS is poised to become the integrated payment gateway for Asia.
Find more information on NETS and its payment services at http://www.nets.com.sg.
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APPENDIX A
LIST OF BILLERS
1. Cathay Cineplexes
2. Central Provident Fund Board
3. EasiBook.com
4. Metro Parking
5. OCBC Credit Card
6. OCBC EasiCredit
7. FairPrice Plus
8. Phoenix Comms
9. Potong Pasir Town Council
10. SingTel
11. SP Services
12. StarHub Ltd
13. StarHub Cable Vision Ltd
14. UOB Credit Card
15. ZONE Telecom