NETS launches NETS Prepaid Card for transport and shopping

NETS launches NETS Prepaid Card for transport and shopping
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NETS launches NETS Prepaid Card for transport and shopping

Network for Electronic Transfers (better known as NETS) announced the launch of the NETS Prepaid Card today (22 November 2022).

The NETS Prepaid Card is a stored-value card by NETS, which works across 120,000 acceptance points in Singapore. All terminals that accept the regular NETS payment method also accept the new NETS Prepaid Card. Those points include transit and retail outlets.

The cards can be managed via the NETS app on the user’s phone. Up to 10 of these prepaid cards can be linked to one NETS user account, which in turn would be logged in to the NETS app on the user’s phone.

Example of using the NETS app to manage NETS Prepaid Cards.

NETS Prepaid Card users can use the app to top-up cards, lock them, or request refunds on misplaced cards. They can also use the app to set daily spending limits and monitor transactions on a per-card basis.

More examples of using the app to manage the cards.

User changes made to these cards are immediate, so a NETS Prepaid Card owner can immediately lock cards or set spending limits of up to S$1,000 on-the-fly. Users can automate top-ups if needed. Terminating a card immediately refunds the stored value too.

The NETS Prepaid Card can also be gifted, with no fixed denominations. The card faces can also be customised to their liking at a fee of S$5.

There are also no minimum age or income requirements, no subscription fees, and no credit checks upon purchase of a NETS Prepaid Card. They can be found at 7-Eleven convenience stores, Buzz, Japan Home, Mustafa, Sir Handphone, TransitLink Ticket Offices inside MRT stations and bus interchanges, at NETS Customer Service Centre, and its official Lazada and Shopee stores.

From December 2022 onwards, the cards will also be sold at Sunshine Star, and J.B.I. Trading.

“The NETS Prepaid Card is part of our continued effort to connect communities and empower lives. Families will be empowered to take control of daily expenses as they can provide their dependents and domestic helper with contactless payment options that can be easily tracked. Additionally, this card can be quickly disabled if it is lost. This card is most valuable as it can be used at all NETS acceptance points and mass transit.” said Lawrence Chan, Group CEO of NETS.

A key difference between NETS FlashPay and NETS Prepaid Card is that FlashPay stores data on the card itself, and it’s not on the NETS app. NETS Prepaid Card stores data on the affiliated NETS account, which is controlled via the app.

More information about NETS Prepaid Card can be found on its official website here.



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