SGQR+ simplifies payments with unified contract for merchants

It streamlines payment processes and improves reconciliation.

NETS is shifting from a traditional payment provider to a solutions provider, addressing operational challenges for Singaporean businesses. Lawrence Chan, Group Chief Executive Officer of NETS, highlighted the company’s SGQR+ rollout as a key example of this transformation.  

“SGQR+ is another strategy that we like to think can add value to our merchants by giving them more customers and more transactions per customer,” Chan stated. Unlike previous systems requiring multiple contracts for different payment options, SGQR+ offers merchants a single contract covering 18 payment methods, including local and inbound options.  

The platform also simplifies reconciliation by consolidating all payment data into one streamlined process. “We will do all the reconciliation of all the payments done on that one QR,” Chan explained.  

Beyond SGQR+, NETS has developed industry-specific solutions to address unique challenges. For hair salons, the company introduced a system linking customers to stylists, enabling seamless commission management. In retail, NETS terminals help businesses manage inventory by scanning barcodes to identify stock availability across locations or online platforms.  

In the F&B sector, NETS integrates point-of-sale functions into its payment terminals, offering QR code ordering and payment options. “Merchants don’t have to purchase another terminal; everything can be managed through our device,” Chan noted.  

Additionally, NETS has rolled out SoftPOS technology, enabling merchants to accept payments via an app on their personal devices. “They can even take Visa and MasterCard transactions by downloading software onto their own device,” Chan added.