NETWORK FOR ELECTRONIC TRANSFERS (SINGAPORE) PTE LTD
Incorporated in Singapore
Designated Payment System Operator
Designated payment system operators operate payment systems designated under the Payment Services Act. MAS may designate a payment system if it is considered a systemically important payment system or a system-wide important payment system, or where it is otherwise in the public interest to do so.
NETS Electronic Fund Transfers at Point of Sale
Major Payment Institution
Major payment institutions provide any combination of regulated payment services, regardless of transactional volume or e-money held. Major payment institutions are subject to more comprehensive regulation than standard payment institutions as the scale of their operations pose greater risks. For example, a major payment institution must comply with requirements to protect customer money.