In a bid to catch up to credit card payments convenience, Nets payment will gradually go digital and contactless in the coming weeks.
As of now, Nets payments require you to insert your card/swipe your card on the payment device, then key in your Personal Identification Number (PIN) to make payment. Credit cards never had this requirement, and you only needed to sign for larger amounts.
According to The Straits Times, the upper limit for this PIN-less function is $100, a standard set by the industry to prevent abuse of misplaced cards. Above this limit, a fingerprint authentication or the PIN is required.
Your cards will be updated, and banks will be issuing new cards in this half of the year. Even mobile devices and wearables will be joining in, as Nets will be collaborating with banks on a Europay, MasterCard and Visa- compliant standard.
The smartphone app will be rolled out soon. It is called Nets Pay, and will function similarly to the Apple Pay app.
Phones with the NFC function will be able to pay by tapping on payment terminals, and those without the function can pay through scanning a QR code on terminals with cameras.
In addition to working as a standalone payment app, Nets is also in talks with AliPay, China’s largest payment service, and DBS Bank’s PayLah to enable Nets Pay from those two services.
Soon, throwing your money into capitalist materialistic pursuits will never be easier. You can literally spend your entire life savings just by lifting your hand and tapping your phone. Hurray for convenience!
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Featured Image: straitstimes.com
This article was first published on Goodyfeed.com
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