NETS Gains Foothold In Entertainment Industry With Debit Payments

Pioneer Of Ingenious Concept Bars, Octopus Holdings, Signs Up NETS As A Preferred Mode Of Payment In All Its 11 Outlets

Singapore’s leading electronic payments provider, NETS, has broken barriers with the recent entry of the Octopus Group onboard the cashless platform. The group will adopt NETS’ debit payment mode in all its eleven wholly owned entertainment outlets with immediate effect. Well known for its creative development of concept bars and franchises, the Octopus Group was incorporated in Singapore in 2002. Apart from providing one-stop solutions for the outfitting of pubs, the group also manages most of the licensed bars and pubs, and F&B establishments. Commenting on this collaboration, NETS’ General Manager, Merchant Partner Group, Ani Dinasan said, “Our alliance with Octopus Holdings brings us a step closer to gain stronger foothold in debit based payment space for the F&B sector. With the use of new technologies like GPRS and Bluetooth enabled terminals, we are offering our partners new options to serve their customers better. I hope that with this new alliance, we would also be changing mindsets in the industry to offer wider payment options in pursuit of a cashless payment environment.” NETS is a pioneer of the debit payment mode, which is already widely available at more than 15,000 merchants and has about 35,000 acceptance point’s islandwide. It gives users control over how much they spend as transactions are debited directly from funds in their bank account ensuring less likelihood to overspend. NETS payments are also more secure as it can only be authorised with customers’ NETS Card and PIN. Andy Lim, Managing Director of the Octopus Group added, “This partnership with NETS allows us to serve our customers better. Once the tab is settled on the spot, it’s over and done with, so there is no need to worry about bills and late payment charges. Being among the first few in the industry to adopt NETS puts our company at the forefront of new concepts; besides differentiating ourselves from the competition, we also provide our customers a mode of payment that is safe, convenient and hassle-free. Adopting NETS in all our eleven outlets also reduces the risks we face when managing cash at the end of the business day.”  To add extra value to customers, the Octopus group will be working closely with NETS to offer Smart Deals for every dollar spent at their eleven outlets. Smart Deals is a privilege programme designed by NETS to offer value to customer and present maximum return on their spend. -Ends- About NETS NETS was founded in 1985 to operate and manage an on-line debit payment service pioneering Singapore’s shift to a cashless society. It has since grown to a multi–service organisation, providing a comprehensive range of electronic payment services. Based in Singapore, NETS is relentlessly developing new payment solutions as it aims to be the preferred world-class solutions provider for payment and processing services, accepting multi-media and multi-channel transactions on behalf of companies, institutions and individuals worldwide. With a growing range of payment services that works seamlessly across mobile, wireless and physical arenas, NETS is poised to become the integrated payment gateway for Asia. Find more information on NETS and its payment services at http://www.nets.com.sg. About the OCTOPUS GROUP Founded on 6 September 2002, the Octopus Group of Singapore is the leading one-stop solution provider for the entertainment industry. The Company comprises four key business units which encompass the leasing of fully fitted bars and clubs; the provision of complete equipment, design and construction solutions for the entertainment and F&B business; the retail and leasing of pool tables; and the development of new concepts for the entertainment business both here in Singapore and the region. The Octopus Group now controls the largest number of nightlife establishments in the country; representing over eight percent market share. For more information on the Octopus Group, please visit http://www.octopusgroup.com.sg For further media queries, please contact: Fleishman-Hillard Pte Ltd Joseph Rajendran Manali Pattnaik E-mail: joseph.rajendran@fleishman.com; manali.pattnaik@fleishman.com Network for Electronic Transfers (Singapore) Pte Ltd Joyce See Vice President, PR & Corporate Communications DID: +65 6374 0535 E-mail: joycesee@nets.com.sg