The new app makes it easier for merchants looking to cater to the increasing demand for contactless payment solutions. – The Straits Times
SINGAPORE: Consumers can look forward to a wider acceptance of contactless payments with the launch of a mobile app that allows merchants to use their smart devices as payment terminals.
The app, called Nets SoftPOS, can be downloaded from the Google Play Store. With it, merchants can use Android smart devices, including smartphones, to accept contactless transactions from cards, QR codes and mobile payments.
There is currently no firm timeline yet to roll the app out to Apple users, said payment services group Network for Electronic Transfers (Nets) on Aug 13.
Customers can make payment by tapping their Nets ATM or debit card, Nets prepaid card, or credit or debit card, or by scanning the QR code using DBS Bank, OCBC Bank and UOB banking apps, as well as overseas banking and wallet apps from China, Indonesia, Malaysia and Thailand.
They can also use their mobile devices to pay using Apple and Google Pay.
For Nets transactions over $100, the customer will need to key in their PIN to authorise the transaction after tapping. There is no option to insert the card for Nets SoftPOS, as the merchant is using a smart device, said Nets.
The new app makes it easier for merchants looking to cater to the increasing demand for contactless payment solutions from consumers as they will not need to integrate additional terminals or hardware into their existing workflows while being able to offer on-the-go payment acceptance securely, it added.
The app was rolled out in a pilot programme in the first half of 2024, with over 30 merchants participating to date.
The app is also certified to meet the latest industry security standards, Nets said.
A Nets SoftPOS monthly subscription is almost half the cost of the subscription for a Nets payment terminal, said the company in response to queries from The Straits Times.
Food and beverage company Ashes Events used the Nets SoftPOS during its trial phase and found it to be convenient and efficient.
Lee Syafiq Muhammad Ridzua, director of Ashes Events, said: “When we conduct pop-up booths during events, using the Nets SoftPOS app takes up less space, and there’s no need for us to bring a separate terminal to collect payment as well.”
He added that tourists benefit from it, too, as there is less need for them to carry cash.
An adjunct teacher, 28, who wanted to be known only as Ong, said: “I don’t mind using the app to make payment as I already transact directly with merchants while shopping at small stalls at flea markets.”
She added: “Even if I have to key in my PIN, I’m okay with it because I trust that if Nets rolls this out, they would have done their due security checks to ensure customer safety. Furthermore, I believe that most business owners do not have malicious intents, their priority would be on ensuring diverse payment methods.” – The Straits Times/ANN
