The enhanced NETSPay app comes with a new wallet feature that enables consumers to top up and pay for purchases at over 7.5 million UnionPay QR code merchants globally via QR codes. 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 fiat foreign currencies 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.
Commending on the partnership, NETS Group CEO Jeffrey Goh shares, “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.”
Also published on Medium.