What is Netspay? Netspay Review, Features

Netspay is a payment card network initiated by Singapore commercial banks. It is a leading payment service group that provides digital payment services to merchants, consumers and banks across the entire payment value chain.

About Netspay

NETS Group Founded in 1986, NETS is a payment card network initiated by Singapore's commercial banks. It is a leading payment services group that provides digital payment services to merchants, consumers and banks across the entire payment value chain. The group operates Singapore's National Debit Scheme, enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to use their ATM cards or mobile devices to pay at more than 120,000 acceptance points in the country as well as online. It manages and operates clearing and payment infrastructure for the Singapore Clearing House Association and core electronic transfer services FAST, interbank GIRO and PayNow. It is the market leader in payment and clearing solutions (real-time gross settlement system and cheque truncation system) in the region, with approximately S$1 trillion in transaction value processed through its systems each year. NETS is a member of the Asian Payments Network and a member of the Board of Directors of UnionPay International.

Netspay's features and services

1. Retail

Scan to Pay: Pay by simply scanning the retailer’s QR code, which can be printed and placed near the cash register or displayed on the terminal screen/receipt.

2. Payment

Tap to pay: Simply tap your NFC-enabled phone on the terminal. Currently only available on Android phones with NFC support.

3. E-commerce

You no longer need to enter your card details, just scan the QR code displayed on the checkout page.

4. In-app payments

Select NETSPay as your payment method and you will be navigated to the NETSPay app where your identity is authenticated using Touch ID.