Network for Electronic Transfers (NETS), a leading payment services group in Singapore, has introduced a new innovation aimed at transforming the payment landscape for merchants. The newly launched NETS SoftPOS is a terminal-free payment solution designed to enable swift, seamless, and cost-efficient transactions.

Payment Without the Hardware

The NETS SoftPOS app, now available on the Google Play Store, allows merchants to convert their Android smart devices into fully functional payment terminals. With this solution, merchants can accept contactless payments directly through their smartphones or tablets, eliminating the need for additional hardware.

“With NETS SoftPOS, we are empowering merchants with a cost-efficient payment solution to accept payments anytime and anywhere at no incremental cost. By leveraging their existing smart devices – including mobile and tablets – we are providing merchants with payment options while maintaining high security standards for contactless transactions. We are excited to offer this innovative solution as part of our commitment to value-add to our merchants,” shared Lawrence Chan, Group CEO at NETS.

Broad Compatibility and Secure Transactions

NETS SoftPOS supports a wide range of payment methods, including card payments from NETS ATM/debit cards, NETS Prepaid Cards, and major international card schemes. QR payments are also accepted from local banking apps such as DBS, OCBC, and UOB, as well as from various overseas banking and wallet apps from China, Indonesia, Malaysia, and Thailand.

The solution is compatible with most Android devices, including single or dual-screen POS hardware and tablets. This flexibility allows merchants the option to either use their personal mobile devices or dedicated hardware for payment processing, ensuring a secure and versatile payment experience.

Meeting Growing Demand for Contactless Payments

The introduction of NETS SoftPOS addresses the increasing demand for contactless payment solutions among consumers. By reducing the barriers to entry, NETS enables more merchants to offer secure, on-the-go payment options without the need for cumbersome terminals or additional equipment. This new solution is already being adopted by some NETS merchants in various sectors, including food and beverage and retail, as part of a pilot scheme.