Singaporean shoppers headed to Kuala Lumpur, Penang and Melaka will now be able to make purchases with their NETS ATM card. The number of NETS acceptance points across Malaysia have increased from 4,500 to 7,400 points, and they can now be found in the three major cities in addition to Johor Bahru, said NETS and its Malaysian counterpart Payment Network Malaysia (PayNet) on Friday.
Now, Singapore bank card holders who shop at KLIA 2 and Sunway Pyramid in Kuala Lumpur, Queensbay Mall in Penang as well as Makhota Parade and Dataran Pahlawan in Melaka will be able to pay with NETS. The services will be available at multiple outlets, including retailers that are popular among Singaporeans such as Giant Hypermarket, pharmacy Guardian, medicinal store Eu Yan Sang and bak kwa chain Bee Cheng Hiang.
Malaysian travellers to Singapore may now also make purchases using MyDebit ATM cards, Malaysia’s national debit card scheme through 500 acceptance points. MyDebit may be used through NETS’ network of merchants at Bugis Village, as well as outlets like Apple retailer iStudio, Pandora, Awfully Chocolate and Salad Stop!
EXCHANGE RATE “ALMOST THE SAME AS” MONEY CHANGERS
In an interview with CNA, Group CEO of NETS Jeffrey Goh highlighted that exchange rates will be competitive for Singaporean visitors who can now use NETS ATM cards instead of bringing wads of cash when they shop in Malaysia. “So, for example, when Singaporeans go to the grocer, and you don’t have enough cash, (this NETS service) gives them an option. It also gives them peace of mind knowing that we don’t charge them high forex rates,” said Mr Goh. While the exchange rate could vary with every purchase, Mr Goh said that it was “almost the same as the money changers”. Mr Goh said that NETS is looking to increase the number of acceptance points to restaurants and shopping outlets in Malaysia that are popular among Singaporeans. He added that NETS is working with PayNet to offer QR code payments “within the next six months” for customers.
NETS is also working with partners in Indonesia and Thailand to enable cross-border instant fund transfers and QR payments in the future, he said.