The Network for Electronic Transfers (Nets) has introduced the Nets SoftPOS, terminal-less payment solution that allows merchants to transform their Android smart devices into payment terminals, facilitating swifter and more cost-effective transactions.
Merchants can simply download the Nets SoftPOS app from Google Play Store to be able to accept contactless payments through cards, QR codes, and mobile payment apps.
Nets SoftPOS supports a wide array of payment methods, including Nets ATM/debit cards, Nets prepaid cards, and major international card schemes.
It also accommodates QR payments from local banking apps such as DBS, OCBC and UOB, as well as international wallets from countries like China, Indonesia, Malaysia, and Thailand. This solution cuts the need for additional hardware, reducing barriers to entry for merchants eager to meet the growing consumer demand for contactless payments.
Nets SoftPOS stands out from other payment solutions by offering a flexible and cost-effective solution without the need for additional hardware, making it particularly attractive for small and medium-sized enterprises (SMEs). This innovation aligns with Singapore’s broader push towards a cashless society, where contactless and digital payments are rapidly becoming the norm.
“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,” shared Lawrence Chan, Group CEO of Nets.
Nets SoftPOS is currently compatible with most Android-based devices including single or dual screen POS hardware and tablets should merchants prefer not to use their personal mobile devices. Already on board in the pilot scheme are some Nets merchants from industries such as food & beverage and retail.
Entelechy Asia 