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Pioneering Singapore’s Shift to a Cashless Payments Society

Pioneering Singapore’s Shift to a Cashless Payments Society. Lee Kim Yeow, VP, Enterprise Support Systems. Who are we. Founded in 1985 as part of a national initiative to encourage electronic payment in Singapore

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Pioneering Singapore’s Shift to a Cashless Payments Society

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  1. Pioneering Singapore’s Shift to a Cashless Payments Society Lee Kim Yeow, VP, Enterprise Support Systems

  2. Who are we • Founded in 1985 as part of a national initiative to encourage electronic payment in Singapore • NETS Debit, launched in 1986, was the first national online debit system in Singapore and the most successful worldwide • Today, NETS is recognised as a leader in the payment services arena – having introduced point-of-sale electronic funds transfer, cash withdrawal services through the ATM network, stored value payments, online payments and mobile payments

  3. Building a cashless society Shared ATM network, 1998 NETS Debit, 1986 NETS CashCard, 1996 iNETS, 2010 eNETS, 2001 NETS FlashPay, 2009

  4. NETS Debit Micropayments Multi-Channel • Process more than 90% of Singapore’s online debit transactions • 16,000 merchants over 30,000 outlets with 60,000 NETS acceptance points • Stored value e-purse scheme • 1st generation NETS CashCard • CEPAS-compliant NETS FlashPay Card (contactless) • Multi-channel payment infrastructure enabling users to make financial transactions online, using their mobile phones or via our self-service kiosks Where we are today

  5. eNETS Card Centre Switching • Enables payment from all major International credit cards, as online direct debit (internet banking payments) from the largest banks in Singapore and China. • 700,000 in transaction volume per month • Switch shared transactions for OCBC & UOB • Process own EFTPOS, iNETS, eNETS, CUP, Stored Value Card transactions • Partner with banks to provide card personalisation services • 1st card centre to be awarded ISO certification • Certified by VISA, MasterCard & AMEX for card personalisation Where we are today

  6. Projects With BPC • Prepaid using Smart-Vista • Billing using Smart-Vista

  7. Prepaid Project • Virtual Prepaid Wallet Feature • A solution that provides consumer a virtual stored value wallet with manual and auto top-up function via credit card or direct debit • It integrates with application providers to launch services for paying public car park charges for Singapore motorists through mobile phone or internet. • SmartVista also perform automatic settlement with the service providers

  8. Billing Project • Flexible Billing Structure • Supports multiple levels of merchant hierarchy • Multiple product support at all levels • Multiple fee support at all levels • Consolidation at any selected level • Flexible and Parameterized Fee Structure (Fee Parameter) • One-time, frequency-based, event-based • Count-based, volume-based, value-based • Supports penalties, rebates, discounts, promotions • Effective-dated • Flexible and Parameterized Billing Options (Billing & Invoice Parameter) • One-time, frequency-based, event-based • Billing and statementing are independent

  9. Billing Project

  10. Billing Project Merchant Hierarchy

  11. Billing Project Fee Setup

  12. Billing Project (Data Model)

  13. Thank You

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