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Source:
www.nets.com.sg |
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NETS Launches Singapore¡¯s
First ATM Bank Card Payment Service for Taxi Market |
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Enjoy fast and convenient
cashless payment with your NETS-enabled ATM bank card onboard all
15,300 ComfortDelGro taxis. |
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Singapore¡¯s leading electronic payments
provider, NETS, today announced the launch of the nation¡¯s first debit
card payment service for the taxi market, ushering a new era of cashless
convenience for passengers. |
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With this new wireless service, taxi
passengers will be able to pay their fare using their NETS-enabled ATM
bank card onboard all ComfortDelGro taxis, which comprise the Comfort,
CityCab and Yellow-Top brands. |
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This is expected to translate into greater
convenience as taxi passengers need no longer worry about being short of
cash, queuing up at ATMs or running low on cash after paying their fare. |
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The payment process is identical to NETS¡¯
EFTPOS (Electronic Funds Transfer at Point-Of-Sale) service that is
widely available at retail outlets, where the card is swiped and the
customer has to enter a PIN. |
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For each successful transaction, passengers
pay an administrative fee of just 30 cents. This contrasts with the
pricing model adopted by overseas taxi operators, which commonly impose
a ten percent surcharge for debit payment. |
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¡°NETS has been evaluating the taxi market
for some time, and the technology has progressed to the point where we
are ready to launch an electronic payment service, offering the same
quality and reliability consumers have come to expect from us,¡± said
NETS CEO Poh Mui Hoon. |
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¡°This new payment service lets consumers use
their NETS-enabled ATM bank card onboard taxis for the first time, and
represents the very innovation we strive to deliver to the market
through our smart and savvy payment solutions,¡± she added. |
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The wireless EFTPOS payment service
will be initially available onboard 3,000 ComfortDelGro taxis
starting November, with the rollout across the rest of the
15,300-strong fleet scheduled for completion in May 2007. |
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By then, seven out of 10 taxis will be
offering this service in Singapore, where more than six million
NETS-enabled ATM bank cards are in active circulation. |
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¡°We are pleased to introduce NETS
payment on our taxis. This is something many of our passengers
have been looking forward to and we are glad to finally roll it
out,¡± said ComfortDelGro Taxi Business CEO Yang Ban Seng. |
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Consumers aside, cabbies are expected
to benefit from NETS¡¯ wireless EFTPOS service in their vehicles.
They will enjoy the convenience of having their daily takings
credited into their bank accounts the following working day, which
saves them time spent queuing up at the bank for deposits.
Carrying less cash onboard will also lower their risk to crime,
ensuring better security and peace of mind. |
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To drive usage of this new payment
service, NETS will be launching a promotion whereby one lucky taxi
passenger will walk away with the grand prize of $10,000 worth of
free taxi rides. |
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In addition, there will also be one
lucky taxi passenger per month who will win $1,000 worth of taxi
fare. To participate, customers only need to pay their taxi fare
with their NETS-enabled ATM bank card. Promotion will start from
November and end on 31 May 2007 and details are available at
www.nets.com.sg. |
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About NETS |
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NETS celebrates its 21st Anniversary
this year. The company was founded in 1985 to operate and manage
an on-line debit payment service. It has since pioneered
Singapore¡¯s move to cashless society and grown from a single to a
multi¨Cservice organisation, providing a comprehensive range of
electronic payment services. |
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Based in Singapore, NETS is expanding
internationally with a vision to be the preferred world-class
solutions provider for payment and processing services, accepting
multi-media and multi-channel transactions on behalf of companies,
institutions and individuals around the world. NETS products and
services are currently marketed throughout Asia, including China,
Hong Kong and South East Asia. |
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NETS provides merchants, banks and
consumers with fast and convenient electronic payment services for
carrying out everyday transactions. |
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With a willingness to push new
technology frontiers, NETS is continuously developing new payment
solutions to create an integrated multimedia platform that allows
payments to be made seamlessly across mobile, wireless and
physical arenas. With a growing range of payment services, NETS is
poised to become the integrated payment gateway for Asia. |
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Find more information on NETS and its
payment services at
http://www.nets.com.sg. |
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About ComfortDelGro |
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ComfortDelGro is the world¡¯s second
largest land transport company with a total fleet size of 40,000
buses, taxis and rental vehicles. |
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Headquartered in Singapore, the Group
also has operations in China, the United Kingdom, Ireland,
Australia, Vietnam and Malaysia. Currently overseas ventures
account for 44% of Group revenue. The Group intends to derive half
of its total revenue from abroad in the next three to five years. |
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Source:
www.nets.com.sg Press Release
10 Oct 2006 |
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FrontPage Edition: Thu 12 October 2006
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