NETS

About

NETS (Network for Electronic Transfers (Singapore) Pte Ltd) is part of NETS Group, a payments services group made up of NETS, Banking Computer Services (BCS) and NETS Solutions. It opened in 1985 to build infrastructure for electronic banking and payments, and its earliest services were Interbank GIRO and the NETS debit scheme. NETS operates Singapore's national debit scheme, with participating banks including DBS/POSB, HSBC, Maybank, OCBC, Standard Chartered and UOB, alongside NETS QR, eNETS online payments, in-app payments and prepaid, FlashPay and Motoring cards. Group company BCS manages Singapore's national clearing and payment infrastructure, including FAST, Interbank GIRO, PayNow, cheque clearing and the SGQR Central Repository, while NETS Solutions builds payments, clearing and settlement systems for financial institutions. The group is equally owned by three Singapore banks and is a founding member of the Asian Payment Network.