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Nets invests S$30m to launch unified e-payments platform

A CASHLESS future has become more of a reality in Singapore, as Nets is investing over S$30 million in the next three years to launch a unified digital payments platform here. The local payment services group said on Monday that it will expand a unified, interoperable QR code payment system to more than 100,000 acceptance points at 37,000 merchants nationwide - and extend it to customers of seven major banks here. Nets added that its...


S'pore can help to develop Asia's financial services

THE financial services' Industry Transformation Map (ITM), launched on Oct 30, aims to create thousands of jobs here in Singapore, as well as raise productivity and growth in the industry, and by extension the wider economy. Under the ITM, the financial services sector is expected to achieve 4.3 per cent growth in the medium term, almost twice as fast as the overall economy. By 2020, an additional 1,000 jobs are expected to be created in...


On the front line of a digital transformation

Financial technology, or fintech, is not just the domain of start-ups trying to disrupt the payments and lending functions of banks. Insurers have also been digitalising in a bid to make it more convenient for customers to access and purchase insurance and make claims. To serve its traditional and millennial customers better, NTUC Income, Singapore's largest composite insurer, has embarked on a three-pronged approach. TAPPING START-UPS Mr...


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