Annual Report 2001/2002

Electronic Funds Transfer at Point of Sale (EFTPOS)

NETS operates the main EFTPOS in Singapore. EFTPOS enables consumers to pay for purchases at the point-of-sale using their ATM cards. As at December 2001, there were over 11,000 retailers offering NETS as a payment method with over 20,000 EFTPOS terminals distributed across these retailers. Retailers using the system include supermarkets, department stores, petrol stations and government institutions. In 2001, the EFTPOS system processed 87.7 million transactions worth $5.5 billion.

EFTPOS Volume and Value Chart

[Consumer Credit Bureau] [Reducing Foreign Exchange Settlement Risks] [Automated Teller Machines] [MAS Electronic Payment System] [Interbank GIRO] [Cheques] [Electronic Fund Transfer] [Multi-purpose Stored Value Card]

[Regulatory Initiatives] [Developmental Initiatives] [Market Infrastructure]

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