PaymentsJournal
No Result
View All Result
SIGN UP
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
PaymentsJournal
  • Commercial
  • Credit
  • Debit
  • Digital Assets & Crypto
  • Digital Banking
  • Emerging Payments
  • Fraud & Security
  • Merchant
  • Prepaid
No Result
View All Result
PaymentsJournal
No Result
View All Result

NETS Partners With Singtel and AWS to Provide New Cross-Border Payments Service

By Steve Murphy
August 26, 2020
in Analysts Coverage, Commercial Payments, Cross-border Payments, Emerging Payments, Partnerships
0
1
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Cross-Border Payments, Barclays, Receivables

This release is posted in BNEW and provides a brief description of a new partnership in the ASEAN region. A Singaporean company called NETS (not to be confused with the company Nets, which was acquired by Mastercard) is partnering with Singtel and AWS to provide a new service for cross-border payments. 

NETS manages the Singapore debit scheme and is a leader in payments and clearing solutions. Singtel has something called ConnectPlus Managed Network, which provides global coverage. AWS will, of course, provide the cloud services.

‘ETS Group CEO Lawrence Chan said: “We are very excited to embark on this collaboration with Singtel through which NETS will be well-positioned to facilitate cross-border commerce by integrating ASEAN+ travel corridors whilst making payments simple and easy for consumers….“Furthermore, NETS merchants in Singapore will be able to accept selected overseas partner wallets from visitors in the region, and benefit from operational cost efficiencies by connecting to a broader range of payment partners to provide a better experience for their customers.” 

While at this point the partnership seems to be targeting retail merchants and consumers across the ASEAN region, we assume there could be a B2B play at some point as well. Singapore consumers can make purchases at foreign retail outlets, and visitors to Singapore can use their e-wallets to pay at NETS merchants. Making cross-border payments easier has been the focus of many new innovations during the past couple of years, so add this to the growing list and we’ll keep tracking it.

‘Singtel MD Lim Seng Kong said: “Our ConnectPlus Managed Network that will enable NETS to dynamically allocate enterprise resources across multiple locations, optimizing network performance and operational efficiency to offer secure, swift and reliable cross-border financial transactions.”…In addition to Singtel’s network infrastructure, NETS will also leverage AWS cloud services like database, containers, serverless storage, and security….AWS MD for ASEAN Conor McNamara said: “NETS has been a leading payment services company for over 30 years.’

Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group

1
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn
Tags: AWSCross-Border PaymentsMastercardNetsSingtel

    Get the Latest News and Insights Delivered Daily

    Subscribe to the PaymentsJournal Newsletter for exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    commercial card, Allpay ClearBank Prepaid Payments, wealth transfer

    How Banks Can Capture the Wealth Transfer from Boomers to Gen Z

    June 20, 2025
    embedded lending

    Embedded Lending as a Growth Strategy for ISVs—How to Maximize Revenue Potential

    June 18, 2025
    merchant ai

    Merchants Find More Use Cases for AI Amid Risks

    June 17, 2025
    prepaid payroll

    Taking the Check Out of Paycheck: The Role of Prepaid in Payroll

    June 16, 2025
    Banking-as-a-service BaaS

    Remodeling Main Street: How Community Banks Can Leverage the Banking-as-a-Service Paradigm

    June 12, 2025
    How Employee Performance Enhances the Customer Experience

    Three Strategies to Maximize Loyalty in the AI-Driven World 

    June 11, 2025
    PFM tools

    How FIs Are Cutting Through Subscription Clutter with PFM Tools

    June 10, 2025
    child identity theft

    Stranger Danger: Protecting Your Children from Identity Theft

    June 9, 2025

    Linkedin-in X-twitter
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Commercial
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Digital Banking
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter
    • About Us
    • Advertise With Us
    • Sign Up for Our Newsletter

    ©2024 PaymentsJournal.com |  Terms of Use | Privacy Policy

    • Commercial Payments
    • Credit
    • Debit
    • Digital Assets & Crypto
    • Emerging Payments
    • Fraud & Security
    • Merchant
    • Prepaid
    No Result
    View All Result