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Article: Internet Direct Debit Solution to Pay for On-Line Purchases.(Network for Electronic Transfers (Singapore) Pte Ltd. and BCS Information Systems Private Ltd. sign memorandum of understanding)(Brief Article)
- Article from:
- Mondaq Business Briefing
- Article date:
- March 22, 2002
CopyrightCOPYRIGHT 2002 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Two local payment operators have come together to mark a significant event of collaboration, paving the way for another cashes payment system. Consumers and merchants stand to benefit from the country's first ever-common internet direct debit solution, which is to be launched at the end of the year. It is a result of a Memorandum of Understanding (MOU) signed between two internet payment switches in Singapore, namely, BCS Information Systems Private Limited (BCSIS) and Network for Electronic Transfers (Singapore) Pte Ltd (NETS). BCSIS is a subsidiary of a local bank and a premier provider of payment, clearing and settlement solutions whilst NETS, founded in 1985, provides ...