Singapore consumers can now use the NETSPay app to make e-payments when they travel overseas, thanks to a new partnership between Singapore’s NETS and global payment network UnionPay.
The enhanced NETSPay app comes with a new wallet feature that enables consumers to scan and pay for purchases at over 7.5 million UnionPay QR code merchants globally.
Consumers can also make contactless payments using their near-field communication (NFC) enabled smartphones at close to 12 million UnionPay QuickPass contactless acceptance points without the need to use cash in foreign currency when traveling.
The enhanced NETSPay app also offers a number of new features. In addition to overseas payments, users can send money to or receive money from other NETSPay users via mobile numbers or QR code.
In addition, those looking to send gifts to family or friends can send e-angbaos (or electronic red packets) to their loved ones using the app. This is in addition to QR code payments in Singapore, including SG QR.
“This partnership between UnionPay and NETS is significant on several levels. First – the launch of the enhanced NETSPay app affirms our commitment to providing innovative payment products and services that can enable greater convenience and ease of payment for local consumers and businesses,” UnionPay GM for International South East Asia Wenhui Yang said.
“Second – 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.”