When purchasing the NETS Prepaid Card, no minimum age, income requirement, annual subscription fees, or credit checks are needed, and users can link to one NETS account up to 10 cards through the NETS app, having a spend limit of up to USD 723 (S$1000) for each card.
Part of the features that users will have access to are:
Topping up on-the-go;
Locking and requesting refund for remaining stored value for misplaced cards;
Setting daily spending limits;
And monitoring transactions made on each card.
Following the linking of a card to a NETS account, users are given the option of reviewing the transaction history via the NETS app, as well as configuring automated top-up whenever the card balance is below a certain amount. Furthermore, users will be enabled to top up their prepaid cards via the NETS app through a variety of means, including NETS bank cards, and, in addition to this, they will also be able to store their preferred payment card on-file to have the process expedited.
What is more, commuters are also given the option of linking their NETS Prepaid Card with the TransitLink SimplyGo app, an initiative that is aimed at introducing contactless payments on trains and busses through a partnership with various payment schemes to see details related to their trip.
When talking about helping with the minimisation of possible fraud and abuse of the NETS Prepaid Card should it be misplaced, users cand lock the card on the NETS app with a simple tap of a button, with the action taking effect immediately. Furthermore, users also have the option of terminating the NETS Prepaid Card permanently to refund the stored value.
Having the largest number of acceptance points locally, as per information provided by NETS and quoted by Fintechnews Singapore, the prepaid card can be used by consumers at more than 120,000 places.
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