NETS started the initiative dubbed NETS 2.0 in order to enable consumers to make payments via their mobile phones near field communication (NFC) function. More precisely, the payment network aims to digitise consumers cards through HCE. This technology is built into a mobile operating system and allows applications to access payment information stored in the cloud. Thus enabling consumers to make payments using their mobile phones, without the need of a physical credit card.
According to the company, a trial for this service will be conducted in the second half of 2016.
Moreover, NETS is currently trialing contactless payments via a wearable called NETS Flashband. Similar to an NFC-enabled debit card, the wristband needs to be topped up at an iNETS kiosk before it can be used to pay for purchases by tapping it onto a NETS terminal.
Additionally, to help local retailers embrace ecommerce, NETS and Global Interactive Works are offering NETS eShop - soft launched at the end of next month. eShop is set to enable retailers to easily change their websites themes as well as domain name and hosting, integrate eNETS payment, and others.
NETS is working together with Ingenico on the portable terminal called One Terminal to enable local retailers to save their physical stores floor space. This means that for SMEs that prefer using smartphones and tablets for payments processing, they could pair their mobile device with Ingenico and NETS mobile point of sale (mPOS) device via Bluetooth to accept payments. This solution is expected to be available from the first quarter of 2016.
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