Due to the agreement, 11 million NETS card users will be able to use their phones to pay at more than 105,000 acceptance points in Singapore.
Consumers are required to scan the NETS QR code or tap their NFC-enabled phone on the NETS terminal to make payments. Purchases are then debited directly to the user’s bank account. Users can store up to ten ATM bank cards on the app, allowing them to choose between bank accounts for different purchases and track their transactions by bank account.
NETS static QR will be incorporated under the SG QR code specifications when the SG QR code is released later in 2018.
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