Network for Electronic Transfers (NETS) has launched its first ‘smart’ stored-value card for retail and transit. Consumers in Singapore can use the NETS Prepaid Card at over 120,000 acceptance points and for their daily commutes on public transport.
Users can top up their NETS Prepaid Card via the NETS App through various means, including their NETS bank cards. Once the card has been linked to a NETS account, users can review the transaction history via the app and also configure auto top-up whenever the card balance dips below a certain amount.
Daily spending limits of up to $1000 can be set for each NETS Prepaid Card, 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. 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,” says Lawrence Chan, group CEO of NETS.
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. There is no minimum age or income requirement and no annual subscription fees for the purchase of the card.
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Chart: NETS
