- Self-service merchant onboarding and collection of retail terminals reduces onboarding process from 2 weeks to 1 day
- Self-service application through corporate website with straight-through processing
- Improved sales productivity via electronic onboarding through a tablet instead of physical application forms
- Slew of initiatives enables NETS to free up limited resources for new initiatives and for creating bespoke solutions for complex payment set-ups
Singapore, 25 June 2018 — NETS has embarked on a digital transformation journey to enhance its service for merchants, increase productivity within the organisation and improve its speed to market.
The new initiatives, which include self-service application for merchants via tablets or online and self-collection of retail terminals, enable the company to respond more quickly to merchant needs and free up limited resources for more complex requirements and new initiatives.
Yew Toon Lin, NETS’ Head of Customer Experience & Operations, said, “Even as we were unveiling NETS 2.0 publicly, we were working behind the scenes on technologies to streamline the rollout of our digital payment services and prepare NETS for the future.
“We identified internal processes which one, can be automated, thereby freeing up resources for other projects; and two, which would have the greatest positive impact on customer experience.”
Sign-up in 4 easy steps
Self-service onboarding/collection of terminals
To speed up the onboarding process and enable merchants to set up business as quickly as possible, merchants can now apply for NETS services online (via https://www.nets.com.sg/business/) in four easy steps (see Annex).
As account details are keyed in directly by the merchant, manual labour and data entry errors are minimised, allowing the merchant to be onboarded in one working day, compared to two weeks previously. Merchants can also pick up their NETS terminals from the Customer Service Centre at their convenience, and start using NETS services a day after their application.
Since the service was launched last month, online applications now make up 5% of the new applications.
Onboarding via tablet
NETS has also equipped its sales team with tablets to speed up the onboarding process for non-retail merchants such as hawkers. This enables straight-through processing of the application as information on the tablet is uploaded directly to NETS’ operations centre.
Since May 2018, some 50 sales personnel have been testing out the tablet solution for onboarding hawkers and food stall operators.
The NETS Group is a leading payments services group, enabling digital payments for merchants, consumers and banks across the entire payments value chain.
The Group operates Singapore’s national debit scheme enabling 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 106,000 acceptance points in the country as well as online payments. The NETS network also accepts NETSPay, UnionPay and BCA cards, and includes 46,000 Unified POS terminals and 60,000 QR acceptance points. NETS is also the issuer of CashCard and Flashpay cards.
The NETS Group manages and operates the clearing and payment infrastructure for the Singapore Clearing House Association and core electronic transfer services FAST, Inter-bank GIRO and PayNow.
It is the market leader for payment and clearing solutions (Real-Time Gross Settlement system and Cheque Truncation System) in the region with some S$1 trillion in transaction value processed through its systems every year.
NETS is a member of the Asian Payment Network and a council member of UnionPay International.
For more information on the NETS Group, please visit www.nets.com.sg.