The NETS Group is a leading payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain.
Operating Singapore's national debit scheme, NETS enables customers of DBS Bank/POSB, HSBC, Maybank, OCBC Bank, Standard Chartered Bank and UOB to make payments using their ATM cards or mobile devices at more than 102,000 acceptance points in the country as well as online payments. About 1 in 3 Singaporeans use NETS vCashCard, FlashPay, PayNow or NETSPay payment options every day.
NETS' success hinges on being able to develop and deploy innovative new services that make it easier for customers to pay while giving merchants and banks better visibility into customer behavior. Those new services must, of course, comply with a litany of government regulations, and be able to integrate with other payment services and gateways.
Here is NETS' CIO Vincent Low chatting with Solace's Sumeet Puri about how deployment of Solace is helping NETS transform Singapore into a cashless economy:
Solace's message broker allows NETS to reliably and securely route the real-time information involved with large numbers of transactions. And our clean, flexible architecture lets them very quickly develop and deploy new digital payment projects and services, have visibility into consumer behavior, and pattern new services and loyalty programs around consumer behavior as the shift to cashless commerce accelerates.
Solace has improved NETS' ability to bring new services to market — such as the QR code application they recently deployed — from two projects every six months to one project every month. NETS aims to leverage that agility and Solace's easy scalability to expand their reach and offer their innovative digital and touchless payment services across Asia.