NETS Launches Its First ‘Smart’ Stored-Value Card in Singapore

Network for Electronic Transfers (NETS), Singapore’s leading payment services group, has launched the NETS Prepaid Card, its first ‘smart’ stored-value card for retail and transit.

Consumers can use the card at over 120,000 acceptance points, making NETS Prepaid Card the stored value card with the largest number of acceptance points locally.

The wide acceptance together with smart features enabled by NETS App, makes the NETS Prepaid Card an ideal choice for families looking to better track and manage their household expenses, and the perfect gift card that can be tailored to consumers’ preferred value and design.

Commuters can also link their NETS Prepaid Card to the TransitLink SimplyGo app, an initiative to introduce contactless payments on trains and buses through the partnership with various payment schemes, to see their trip details.

Up to 10 cards can be linked to one NETS account through the NETS App, to access features such as topping up on-the-go, locking and requesting refund for remaining stored value for misplaced cards, setting daily spending limits, and monitoring transactions made on each card.

Users can easily top up their NETS Prepaid card via the NETS App through various means, which include NETS bank cards. The user’s preferred payment card can also be stored on-file to speed up the process.

Once a NETS Prepaid Card has been linked to a NETS account, users can review the transaction history via NETS App and also configure auto top-up whenever the card balance dips below a certain amount.

Daily spending limits of up to S$1000 can be set for each card, which takes effect immediately and can be changed on the fly, making it an ideal stored value card to help family members and domestic helpers to pay digitally while ensuring that they stay within budget.

To help minimise possible fraud or abuse of the NETS Prepaid Card if it is misplaced, users can lock the card with the simple tap of a button on the NETS App.

Locking and unlocking the card takes effect immediately and there is also an option to permanently terminate the NETS Prepaid Card to refund the stored value.

“The NETS Prepaid Card is part of our continued effort to connect communities and empower lives. Families will be empowered to take control of daily expenses as they can provide their dependents and domestic helper with contactless payment options that can be easily tracked,” said Lawrence Chan, Group CEO of NETS.

“Additionally, this card can be quickly disabled if it is lost. This card is most valuable as it can be used at all NETS acceptance points and mass transit.”.

Additionally, the NETS Prepaid Card can be used for public transport, allowing commuters to top up the card on-the-go instead of spending time queuing at physical top-up machines.

The NETS Prepaid Card can also be topped up and managed via the NETS App, available on both Google Play and Apple App Store. Through the NETS App, users can also set up automatic top-ups for the card to ensure that there are always sufficient funds for their daily commute.

There is no minimum age or income requirement, no annual subscription fees and no credit checks for the purchase of the NETS Prepaid Card.

Consumers can purchase the NETS Prepaid Card at 7-Eleven convenience stores, Buzz, Japan Home, Mustafa, Sir Handphone, TransitLink Ticket Offices at MRT stations and bus interchanges, NETS Customer Service Centre as well as Lazada and Shopee.