Wirecard Singapore and Network For Electronic Transfers (Singapore) will collaborate to provide a single terminal payment solution for Singapore government agencies.
The move will enable users of the services of Singapore government agencies to use their CEPAS cards such as NETS FlashPay, EZ-Link and concession cards on one single device.
Paying by a wave of a card over a reader is fast becoming common in Singapore, with a higher card circulation and more merchants on board. CEPAS, or Contactless e-Purse Application, is a Singaporean standard for a contactless smart card. NETS, EZ-Link and TransitLink issue the FlashPay card, EZ-Link card and concession card respectively.
The CEPAS cards are used to make payments across major retailers, food courts, convenience stores, supermarkets, etc. in Singapore. It is also used on all MRT/LRT, public buses, selected taxis as well as to pay for road toll and CEPAS-compliant car park charges.
NETS is designated as the national payment system by the Monetary Authority of Singapore. One in three Singaporeans uses NETS every day to make payments across a network of 91,000 acceptance points nation-wide. In 2015, NETS processed S$23 billion in transactions from debit and credit transactions, CashCard and FlashPay.
As part of the new cooperation, Wirecard will acquire the merchants for CEPAS payments, while NETS will provide the terminals and acquire the merchants for NETS payments.
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