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.
 |