NETS: Innovating Through Consumer-Centric Design

Founded in 1985 by a consortium of local banks, Singapore electronic payment service provider NETS, has gone leaps and bounds in advancing the adoption of electronic payments in Singapore. Its latest innovation, NETS Click enables the digitisation of NETS Bank Cards on third party merchant mobile applications for secure seamless payments. And for that, they’ve won much-deserved awards.

Having been honoured Highly Acclaimed, Best Customer Experience – Debit Card and Outstanding Customer Experience for Digital Payments at the Digital CX Awards 2020 by The Digital Banker, NETS continue to innovate through consumer-centric design.

The prestigious awards, running on its second year now, received more than 200 nominations for various awards categories. Getting through successfully is an accomplishment as this year’s panel of judges include subject-matter experts known for their integrity and unbiased adjudication from companies such as Forrester, EY, Fuji Xerox, Bain & Company, Wipro Digital and KPMG.

“NETS is in the business of making transactions more convenient and simpler for everyone. In line with Singapore’s push to become a cashless society by 2025, we are proud to introduce NETS Click as a new in-app payment option for commuters to pay for their ComfortDelGro taxi rides in a quick and seamless way. NETS Click has successfully addressed the monumental challenge of delivering simplicity on top of advanced technological enablers and for that, we are extremely delighted,” said Kenny Lee, VP, VAS & Partnership, Merchant Products & Partnership at NETS.

NETS Click – secure seamless payments to third party merchants

NETS Click enables the digitisation of NETS Bank Cards on third party merchant mobile applications for secure seamless payments. The product was conceived and built in-house with a lean project team comprising cross-functional domain experts from product, technology, security and compliance teams. The design is aligned to concepts of EMVCo’s Secure Remote Commerce (SRC) and fulfils equally stringent industry security requirements.

NETS Click features a highly advanced security design incorporating multi-layered mobile digital security, EMV-based tokenisation technology, bank card and consumer verification methods. Most importantly, it was developed with a human-centred product design. The result is a simple and friendly user journey incorporating advanced mobile runtime threat detection coupled with host-based AI-driven fraud and security monitoring.

Merchants enabling NETS Click on their mobile applications are able to retain payment transactions that would have otherwise dropped off due to less seamless check-out experiences.

Despite the complex technical implementation and intricate project management to align across multiple workgroups comprising banks, partners and internal stakeholders, the project team launched NETS Click without delays and within planned budget.

Commercially launched on 1st Nov 2019 with ComfortDelGro taxi, NETS Click has contributed close to a 10% increase in NETS total transaction value from ComfortDelGro in just a matter of 30 days from launch.

Teamwork works

Before NETS Click’s success, the team had to overcome complex challenges. One of the most significant challenges that the project team faced was to create a product that delivers simplicity in design, despite running on complex and advanced technological enablers. The NETS Click project team successfully rolled out a one-time registration step that is even simpler than existing payment details entry process by other payment providers.

After registration, NETS Click essentially eliminates the need for consumers to fill out tedious payment details forms during the check-out process, replacing it with a seamless one-click payment experience.

Merchants enabling NETS Click on their mobile applications are also able to retain payment transactions that would have otherwise dropped off due to less seamless check-out experiences. The enhanced consumer experience also helps merchants drive consumer retention, usage and loyalty.

Read more about the winners at the Digital CX Awards 2020 here.

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