NETS launches integrated bill payment platform in Singapore

Initially, iNETS is set to be made available over kiosks and mobile phones, with other emerging channels to follow. The iNETS service is aimed to be Singapore’s first integrated payment platform that aggregates services offered by banks and financial institutions, telecommunications operators, merchants and other organisations. NETS looks to provide a single point of contact for multiple organisations, allowing them to maximise their distribution across different channels, thereby increasing productivity and sales opportunities.

iNETS marks the company’s entry into Singapore’s self-service payments sector, which sees about 60 million bills processed each year. Only one-third of the bill payments market is currently addressed by the self-service providers, with the rest being transacted through cash, cheques and electronic payment modes.

With iNETS, customers can pay for everyday services such as credit card, phone, utility and household bills, bank loans, and movie tickets using their desired channel. For a start iNETS service will offer bills and ticket payments services to over 10 billers.