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FINANCIAL SERVICES | Staff Reporter, Singapore

NETS taps UnionPay for overseas e-payment

The upgraded app will also allow users to send e-angbaos for families and friends.

Consumers based in Singapore can make e-payments abroad through NETSPay through the app’s partnership with UnionPay, an announcement revealed.

The upgraded app includes a new wallet feature to let consumers scan and pay for purchases at over 7.5 million UnionPay QR code merchants globally. They can also make contactless payments using their near-field communication (NFC) enabled smartphones at close to 12 million UnionPay QuickPass contactless acceptance points without the need to use foreign currencies.

Moreover, users can send money or receive money from other NETSPay users via mobile numbers or QR code. They can also send e-angbaos (electronic red packets for families and friends).

The enabling of NETSPay acceptance at UnionPay QR code merchants and UnionPay QuickPass contactless acceptance points around the world will allow local NETS users to make QR code and contactless payments everywhere they go, including at key destinations such as Australia, China, Hong Kong, Japan, Malaysia, South Korea and Thailand,” UnionPay International Southeast Asia general manager Wenhui Yang said.

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