Key takeaways
- NETS is Singapore’s EFTPOS network: customers pay from their bank account with a NETS-enabled card, contactless card, or a bank app via NETS QR.
- You can get a NETS terminal from NETS directly, through your bank, or through your POS vendor. The POS route usually gives you an integrated terminal.
- NETS says NETS payments reach your bank account the next working day, and credit card payments typically in two to three working days.
- NETS does not publish its terminal or transaction rates on the pages we checked. Get a written quote and compare the full monthly cost.
Last checked against NETS and MAS pages: September 2026.
What NETS is: EFTPOS in Singapore
EFTPOS stands for electronic funds transfer at point of sale: the customer’s bank account is debited directly when they pay. In Singapore, the EFTPOS network is NETS (Network for Electronic Transfers). For merchants, NETS matters because it is familiar, widely used, and tends to settle faster than credit cards.
Today NETS covers more than bank cards. Its NETS POS page says its terminals can accept NETS cards, major credit cards, QR payments, overseas wallets and foreign cards on one device, with acceptance varying by terminal model. So when a supplier says “NETS terminal”, ask exactly which payment types it will take.
Ways to accept NETS
There are three common routes to a NETS terminal.
| Route | How it works | Good for | Check |
|---|---|---|---|
| Direct from NETS | Apply to NETS for a NETS POS terminal, SoftPOS or SGQR label | Standalone shops, stalls, simple set-ups | Whether it integrates with your POS |
| Through your bank | Your bank’s merchant services supply a terminal accepting NETS and cards | Businesses bundling card acceptance with banking | Contract length, fees for each scheme |
| Through your POS vendor | The vendor sets up a terminal integrated with the POS | Restaurants and shops wanting automatic reconciliation | Which acquirer is used, and who supports the terminal |
NETS lists “NETS Certified Vendors” on its NETS POS page, the POS providers certified to integrate NETS terminals. Our payment terminal guide explains acquirers and payment facilitators in more detail.
NETS terminal options: card, contactless and phone
NETS POS terminals
NETS offers wired and wireless models. According to NETS, wired terminals need a phone line or network cable and power, and suit fixed counters. Wireless terminals are handheld, use mobile data, and can be brought to the customer. NETS says its wireless terminals only work with NETS-supplied SIM cards, and it bills the telco charges on a single invoice. NETS also says PIN verification is required for NETS card transactions above S$200.
NETS SoftPOS
The NETS SoftPOS app turns a compatible Android phone or tablet into a contactless terminal. NETS says it needs Android 10 or above with NFC, accepts contactless payments only, and prompts for PIN above S$100. It suits pop-ups and low volumes.
All-in-one NETS terminal
NETS’s Integrated POS Solution combines order-taking, payments and sales tracking on one terminal, aimed at F&B, salons and retail. It suits businesses with simple needs; larger outlets usually want a full POS with an integrated terminal.
NETS QR and SGQR
Customers can also pay NETS by scanning a QR code with a bank app. NETS’s SGQR label page says you can accept NETS QR with just an SGQR label, without a terminal, with same-day settlement. It lists apps such as DBS PayLah!, OCBC, UOB TMRW, Standard Chartered, Maybank2u SG and the NETS App, plus various foreign e-wallets. SGQR is a single standardised QR code that combines several payment schemes; NETS notes the scheme is co-owned by MAS and IMDA.
Two practical points:
- Static labels need checking. With a printed QR, the customer keys the amount. Staff must confirm each payment on the NETSBiz app or terminal before the customer leaves.
- Dynamic QR is easier to reconcile. A QR generated by the terminal or POS for the exact bill amount removes keying errors.
The same static-versus-dynamic trade-off applies to PayNow. Our guide to accepting PayNow explains it in detail.
Setting up a NETS terminal: documents and steps
For new merchants applying online for permanent wireless terminals, NETS’s NETS POS page lists:
- ACRA-registered companies: ACRA details, a $200 deposit (paid on collection of the terminal), a DBS, OCBC or UOB bank account statement or cheque image in the company name, and one photo of the shop front showing the shop name.
- Non-ACRA businesses: NRIC details and an NEA licence.
NETS says online applicants collect terminals at its Braddell Road office. For wired terminals, it asks for a 3-pin power point and a direct telephone line without call waiting before installation. It provides three free rolls of receipt paper per terminal at installation, and training at delivery or collection. If you go through a bank or POS vendor, their process and documents will differ, so ask for the list up front.
How NETS settlement works
Settlement is when the money reaches your bank account. NETS’s NETS POS FAQ gives these timelines:
- NETS payments: next working day.
- Credit card payments: typically within two to three working days.
For NETS QR via an SGQR label, NETS states same-day settlement. You can view settlement and transaction reports in the NETS Merchant Portal; for QR, NETS says the portal shows records from the previous working day. Match these reports to your POS totals by payment method every day. A difference usually means a keyed amount was wrong, a void wasn’t reversed, or a payment was taken on the wrong terminal.
NETS terminal charges: what to compare
On the pages we checked, NETS says “terminal and transaction fees apply” but does not publish the rates. For QR, its FAQ says to contact NETS for transaction and subscription fees. When comparing quotes from NETS, your bank or a POS vendor, ask for:
- Terminal fee: monthly rental or subscription, and any deposit (NETS lists $200 for online wireless applications).
- Transaction fees: for NETS, for each card scheme, and for QR. These are usually a percentage, a fixed fee or both.
- Connectivity: mobile data or line charges for wireless or wired terminals.
- Promotions: NETS was offering new online sign-ups a 12-month subscription fee waiver when we checked. Note when it ends and what you pay afterwards.
- Contract terms: minimum period, early termination, and who replaces a faulty terminal.
Our payment processing fees guide shows how to work out your effective rate across all payment types.
Integrating NETS with your POS
A standalone terminal works, but it means staff key every amount twice: once into the POS, once into the terminal. That is slow and invites errors. With an integrated terminal, the POS sends the amount to the terminal, the customer pays, and the result comes back to the POS. Reconciliation is automatic, and void or refund handling stays in one place.
Integration also matters for refunds and voids. If a customer is refunded on the terminal but the bill stays closed in the POS, your sales report and your settlement will never agree. With an integrated set-up, the refund starts from the POS bill and both records change together. The same applies to split payments, where one table pays part by NETS and part by card or PayNow.
Ask your POS vendor which terminals and acquirers it integrates with, and whether it is on NETS’s certified vendor list. Our POS payments page covers the payment set-up we support.
Checklist: accepting NETS
- Decide the route: NETS direct, your bank, or your POS vendor.
- Confirm which payment types the terminal accepts: NETS card, contactless, NETS QR, credit cards, foreign cards.
- Choose wired or wireless based on where you take payment.
- Get terminal, transaction and connectivity fees in writing.
- Check integration with your POS, and who supports the terminal.
- Set up daily reconciliation of POS totals against NETS settlement reports.
- Train staff to check QR payment confirmations before the customer leaves.
How ChaChaCha handles NETS
ChaChaCha, powered by AppsPOS, accepts NETS alongside PayNow, PayLah!, Visa/Mastercard and GrabPay, via DBS, UOB and 2C2P. It supports split payments and automated reconciliation, so payment totals match your POS reports. AppsPos is listed among NETS Certified Vendors on the NETS POS page. Hardware is supplied by AppsPOS as part of a quote-based package; ask us to confirm the terminal options for your outlet, or contact us for a quote.
