Your Guide to Cashless Payments in Singapore

credit card payment systems ecommerce solutions

When PM Lee Hsien Loong made his speech during the National Rally Day last year, he touched on the need to switch to cashless payments. Going cashless will mean not needing to carry too much cash or having to provide exact change.

There are several cashless options offered that cover almost every possible need you have. Have a look at some of the choices open to you. Take the plunge towards “conveniently cashless”.

NETS Electronic Funds Transfer at Point-of-Sale

It started in 1985 and is possibly the oldest system out there. It is the most widely accepted form of cashless payments. You simply swipe your card for your purchases at a merchant and the money is automatically debited from your account.


Now you can forget your wallet at home and not have to worry. Why? Because the NETSPay mobile application allows you to, essentially, carry every card you own with you. Make payments using POSB, DBS, or UOB NETS bank cards.

All you have to do is download the app, register NETS bank cards, and you’re good to go! Scan QR codes or simply tap your phone at payment terminals, it’s as simple as that!

Contactless Credit Cards or Devices

These contactless cards offered by Mastercard or Visa are convenient and easy to use. You don’t need a PIN or a signature to transact. If your card/device is contactless-enabled, simply tap it on the machine, wait for the green light, and we’re in business!

You will be able to use contactless devices or cards at a wide range of outlets, such as, grocery stores, retail stores, and fast food restaurants. You can even use this service for taxis and some vending machines.

EZ-Link Transit Card

This is your go-to service for using public transport. Again, like the contactless cards, you simply have to keep your card sufficiently recharged and you just tap and go. Besides making your travel on buses and trains smoother, these cards can also be used at retail outlets, government services, or dining.

NETS CashCard/NETS FlashPay

If you drive, you probably know that the NETS CashCard is the most widely accepted payment at car parks. You can also use the card at retail outlets, however, its use is somewhat limited here.

A more modern take on the NETS CashCard is NETS FlashPay. You can use this service to pay for public buses, MRT, LRT, or the SMRT taxi. You could even make purchases at supermarkets, food courts, and some hawker centres.


Introduced on 10 July 2017, this fund transfer system makes life easy for retail customers. It allows you to both receive and send funds (Singapore dollars) instantly using your mobile device. If you are sending money to someone, you don’t need to know their bank or account details. PayNow is available 24/7, throughout the year.


You can use this online service to digitally transfer funds while making an online purchase or using your mobile device to physically purchase stuff. To enable your mobile device, you simply link your credit or debit card to the app. Some popular e-wallets include, Android Pay, Samsung Pay, and Apple Pay.

Cashless: The Way of the Future

While there are several cashless options, perhaps one of the most popular one these days is your good old mobile phone. The number of services that are either aligned with your mobile device or can work through your mobile device is vast and growing.

You can connect your phone to your bank account, mobile wallet, credit or debit card, or an app that offers a payment service. And doing this means no hassle of carrying change, no worries about counterfeit currency, you won’t have to carry large amounts of cash! The list is almost endless.

So, don’t think too much about it. Just jump on the cashless bandwagon and watch your life become a whole lot easier.