Nets to launch iPhone-based Nets payment terminal

SINGAPORE - Short of cash at home? You can soon use your Nets card to pay for more home delivery services.

Electronic payments firm Nets is looking to launch Singapore's first-ever iPhone Nets terminal by the end of this year.

The iPhone Nets terminal will make payments for products and services easier and more convenient.

Instead of carrying a bulky payment device or additional cash, merchants can simply attach a device to their iPhones to turn them into secure Nets terminals.

This can help reduce the hassle of handling cash and prevent the risk of fraud.

The device, an iSMP mobile terminal, is created by Ingenico, a worldwide provider of payment services.

On the left: An iPhone with an attached terminal below to turn it into a Nets machine.

Nets, which stands for Network for Electronic Transfers Singapore, is currently running a three-month internal trial which will start in a few days.

When it ends, the firm will look at rolling out the terminal for use by merchants at the end of the year.

So far no merchants have been announced as the technology is still on trial.

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