Nets makes services available abroad with China's UnionPay tie-up

SINGAPORE electronic payment network Nets will make its services available outside of Singapore for the first time via a strategic partnership with China's UnionPay International.

Under the tie-up, Singapore consumers can use the NetsPay app to make payments at more than 7.5 million UnionPay QR code merchants globally. The NetsPay app will also enable payment at almost 12 million UnionPay Quick Pass contactless acceptance points without the need to use foreign currencies when travelling.

Nets, which is owned by Singapore's major local banks, has also enhanced its app to allow fund transfers between NetsPay users via mobile numbers or QR code.

"The enabling of NetsPay acceptance at UnionPay QR code merchants and UnionPay QuickPass contactless acceptance points around the world will allow local Nets users to make QR code and contactless payments everywhere they go, including at key destinations such as Australia, China, Hong Kong, Japan, Malaysia, South Korea and Thailand when they travel overseas,” said Wenhui Yang, general manager for UnionPay International South-east Asia.