About
NETS (Network for Electronic Transfers) runs Singapore's national debit scheme. It was set up in 1985 and is owned in equal shares by the country's three largest banks, DBS/POSB, OCBC and UOB. Shoppers pay with a NETS-enabled bank card issued by those banks, including by tapping it at the terminal, and the amount is debited from their bank account. The same group runs NETS QR, a single merchant QR code that accepts payments from multiple mobile apps, and the FlashPay contactless card used for public transport, motoring charges and retail. As of 2026, NETS reports more than 150,000 acceptance points in Singapore, including hawker centres, food courts and supermarkets.
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