Last week, Singapore’s largest cashless payment provider, NETS, announced it has teamed up with Tencent to let NETSPay users transact at terminals that accept the Chinese giant’s e-payment platform, WeChat Pay.
This would allow NETSPay users to easily make purchases while travelling in China, where WeChat Pay is ubiquitous.
Today, NETS is bringing this partnership closer to home. Through a deal with Singapore’s oldest retail group, Dairy Farm Singapore Group (DFSG), it is integrating WeChat Pay into its uPOS terminals installed at over 600 Cold Storage, Giant, 7-Eleven and Guardian stores island-wide.
The service will officially go live on November 1, but it is already piloted at the 7-Eleven and Guardian stores at Changi International Airport as well as key tourist destinations in the Orchard and Chinatown districts.
In September, WeChat Pay also announced a collaboration with Singapore shopping malls Bugis Junction and Bugis+ to integrate its e-payments platform at participating retail outlets.
Also Read: Tencent supports Malaysia’s cashless society by launching WeChat Pay MY
To use WeChat Pay for payments, users simply need to scan the NETS QR code on the
NETS uPOS terminal.
This partnership will allow retailers to better cater to the growing number of Chinese tourists in Singapore. According to the Singapore Tourism Board, visitors from China increased by almost 13 per cent per cent, from 2.8 million in 2016 to 3.2 million in 2017.
“More customers are adopting cashless payments, thanks to easier and faster payment
transactions with the uPOS terminal plus the convenience of the wide array of payment options to choose from across our Cold Storage, Giant, 7-Eleven and Guardian stores,” said Dairy Farm Singapore’s Regional Finance Director, Tom van der Lee.
“Cold Storage alone has seen cashless payment increase by 6 per cent and at Guardian by 3 per cent since Dairy Farm Singapore installed 1,800 unified NETS POS terminals in 2017,” he added.
WeChat Pay currently has over 900 monthly active users.
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