NETS (company)
Network for Electronic Transfers, colloquially known as NETS, is a Singaporean electronic payment service provider. Founded in 1986 by a consortium of local banks, it aims to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB).
| Company type | Private |
|---|---|
| Industry | EFTPOS, Financial services |
| Founded | 1986 January 18 |
| Headquarters | Singapore |
Area served | Singapore |
Key people | Lawrence Chan (CEO) |
| Products | Payment systems, payment cards, prepaid cards, smart cards, contactless payment, QR code payment, electronic funds transfer, payment and clearing solutions |
| Parent | |
| Website | www |
The NETS Group (comprising NETS, BCS and BCSIS) provides a full suite of payments and financial processing services including direct debit and credit payments at point-of-sale (NETS) and online (eNETS), mobile payments (NETSPay), card services (CashCard, FlashPay card), electronic funds transfer (FAST, Paynow, GIRO) and payment and clearing solutions (Real-Time Gross Settlement, Cheque Truncation System). NETS is also a member of the Asian Payment Network (APN) and a council member of UnionPay International.