Network for Electronic Transfers (NETS), a Singapore-based payment services provider, has launched NETS SoftPOS, a terminal-less payment solution. This new technology enables merchants to use their Android smart devices as payment terminals, allowing for contactless transactions.

The application is available for download on the Google Play Store. NETS SoftPOS allows merchants to accept various contactless payments, including card, QR, and mobile payments. The platform supports payments through NETS ATM/debit cards, NETS Prepaid Cards, and major international card schemes.

Additionally, QR payments can be processed using banking apps from DBS, OCBC, and UOB, as well as international banking and wallet apps from countries such as China, Indonesia, Malaysia, and Thailand. Lowering barriers for contactless payments The introduction of NETS SoftPOS is aimed at reducing entry barriers for merchants seeking to meet the growing demand for contactless payment options. This solution eliminates the need for additional terminals or hardware, integrating into existing business operations and offering flexibility for mobile payment acceptance.

The platform is designed to be both secure and cost-effective. NETS SoftPOS is compatible with a wide range of Android-based devices, including single and dual-screen POS hardware and tablets, offering merchants the option to avoid using personal mobile devices. The pilot phase includes a variety of NETS merchants from sectors such as food and beverage and retail.

The NETS Group operates Singapore's national debit scheme, enabling customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank, and UOB to make payments at over 130,000 acceptance points across the country. The network also supports payments from international wallets and cards, including those from BCA, MyDebit, RuPay, UnionPay, and apps like Alipay+ and WeChat Pay. Additionally, NETS manages Singapore's clearing and payment infrastructure, providing solutions for services such as FAST, Interbank GIRO, eGiro, and PayNow.

The group is a market leader in the region, offering payment and clearing solutions, including the Real-Time Gross Settlement system and Cheque Truncation System. .