NETS Goes Beyond Payments With ‘Merchant Solutions’ Launchby Fintech News Singapore November 9, 2023
The Network for Electronic Transfers (NETS) has expanded beyond payments with the launch of its Merchant Solutions, where over 100 merchants participated in the pilot phase this year.
The solution is a customisable management system designed to streamline business operations for merchants in the food and beverage, hair and beauty, as well as retail sectors.
The new offering includes an integrated point-of-sale (POS) terminal solution, QR ordering, and self-service payment solutions, all integrated into a single handheld terminal running on an Android operating system.
This eliminates the need for multiple devices and vendors, saving merchants time and money.
Key features of the NETS Integrated POS Solution include a cloud-powered for easy updates to menu items and promotions as well as a streamlined setup and pre-configured software for quick deployment.
It also offers comprehensive payment options, including NETS bank cards, NETS FlashPay, NETS Prepaid Card, credit cards, and QR payments from various digital payment apps.
Merchants will also have the ability to handle other business-critical processes such as tracking sales, scanning barcodes, managing inventory, scheduling bookings, and calculating sales commissions using the handheld terminal.
NETS Merchant Solutions was developed in partnership with Lunchbox, a digital POS solution for restaurants, and the Singapore Data Hub which provides range of services and software products for SMEs.
Lawrence Chan, Group CEO, NETS said,
“In a tight labour market, it’s crucial for small businesses to enhance productivity to stay competitive. Integrating solutions alongside payments enables micro business owners to operate efficiently through automation or self-service solutions, resulting in shorter waiting time for customers.
At the same time, it also provides businesses with instant information of their sales performance, allowing them to manage the business with a data-driven approach.”