Singapore electronic payment provider NETS has launched a new contactless card called FlashPay, a stored-value card that can be used for public transport, car parks and at more than 2,500 retailers.
NETS currently has 37,000 merchant partners with some 2,500 of them already FlashPay-enabled. The card is designed for small-value payments. CEPAS-enabled, the FlashPay card can store up to about $360. CEPAS is a Singaporean specification that stands for contactless e-purse application.
The company is also working with banks to roll out ATM and debit cards that will be integrated with FlashPay’s stored value capacity.
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