Singapore payments service provider NETS has launched an app that helps small business owners, like hawkers and handymen, to track and accept QR code payments. The app is available on the Google Play Store and iOS App Store.
Called NETSBiz, the app lets merchants generate their own QR code to accept payments from customers and see in real-time if the transaction was successful. It was designed for small businesses that are “infrastructure-light”, the firm said.
Businesses that have more than one staff member managing payments can add additional users onto a merchant’s profile, and all transactions can be tracked via the app.
One particular use case highlighted by NETS is around bus fare collection. “With the NETSBiz app, my drivers can generate the NETS QR code on their phones so customers pay instantly and don’t have to worry about collecting cash or providing change for big notes,” said Eddie Ong, a charter bus operator, adding that the drivers do not have to report back to him at the end of the day as he would be notified on his phone as well.
The important thing about NETS is its ubiquity; the company claims that one out of three people in Singapore already use the company’s cards and mobile money for “everyday purchases”. For small businesses that might not be able to afford installing a NETS payment terminal, this will cut down on the cost while providing a secure way to accept cashless payments.
NETS has been bullish about the use of QR codes in its push to make Singapore increasingly less reliant on cash. It announced last month that users of its debit cards will be able to use the e-wallet app in foreign countries, following a partnership with UnionPay.
Editor: Nadine Freischlad