NETS Partner With Global Refund

Tuesday 12 October 2004 10:33 CET | News

Network for Electronic Transfers (Singapore) (NETS) and tax refund operator Global Refund Singapore Pte Ltd have signed a deal which will streamline the refund of the Goods and Services Tax (GST) to tourists and give NETS merchants a competitive edge in competing for the tourist dollar.

By the end of the year, tourists will be able to make purchases and get participating merchants to process and print GST refund forms using NETS terminals, which will allow Global Refund to process its transactions electronically. With this implementation, tourists will receive their electronically printed forms at the shop. All they will need to do is bring along the slip to the GST Refund counter at the airport or at the Downtown Cash Refund centre. At the same time, NETS and Global Refund are working towards enabling purchase records to be made available online next year, making the entire process of claiming a refund simpler and easier for all tourists in Singapore. Global Refund recently concluded successful live tests for electronic transaction handling at over 60 retail outlets in Singapore, with merchants welcoming the new innovation that saves them time, and ultimately money.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce