Annual Report 2001/2002

Multi-purpose Stored Value Card (MPSVC)

The CashCard, operated by NETS, is an MPSVC that offers consumers an alternative and convenient electronic payment mode for a variety of small-value transactions. Over the years, the CashCard has gained increasing acceptance among Singaporeans. The number of CashCard transactions rose from 100 million in 2000 to 102 million in 2001, while transaction value increased from $173 million to $212 million in the same period. In August 2001, NETS introduced the NETS Virtual Card, which is a payment service that allows users to make payment to businesses or individuals through online interfaces or mobile phones.

Cashcard 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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