Singaporeans who are headed to Malaysia this festive season, primarily Kuala Lumpur, Penang and Melaka can now look forward to being able to make purchases with their NETS ATM Card.
Say goodbye to carrying around thick wads of cash or making a trip to the money changer when you run of RMs.
It isn’t a new thing in Malaysia, as there are already 4,500 NETS acceptance points all over the country. But now, it has increased to 7,400 points, including major cities other than Johor Bahru.
This was announced by NETS and the Malaysian version, Payment Network Malaysia (PayNet) on 29 November.
PSA: S’poreans Can Now Use Their NETS ATM Card To Pay In KL, Melaka & Penang
The service was first introduced in November 2018. Singaporeans were told that they can use their NETS ATM cards in malls in Johor Bahru like the ever-popular JB City Square.
The service has since been extended to other places like
- KLIA 2
- Sunway Pyramid in Kuala Lumpur
- Queensbay Mall in Penang
- Makhota Parade
- Dataran Pahlawan In Melaka
Also, you can use your NETS ATM Card at multiple outlets like:
- Giant Hypermarket
- Pharmacy Guardian
- Eu Yan Sang
- Bee Cheng Hiang
Exchange Rate “Almost The Same As” Money Changers
Now you must be wondering, wait, will we be charged exorbitant transaction fees!? Or less than stellar exchange rates!?
I have some good news for you, the answer is No and No.
Group CEO of NETS Jeffrey Goh told Channel News Asia that exchange rates will remain competitive for Singaporean visitors who use their NETS ATM cards.
He said, “So for example, when Singaporeans go to the grocer, and you don’t have enough cash, (this NETS service) gives them an option. It also gives them peace of mind knowing that we don’t charge them high forex rates.”
Cashless Payment Methods Like DBS PayLah In The Works
But wait, there’s more good news. Mr Goh also said that NETS is working with PayNet to offer QR code payments for customers.
This means that Singaporeans travelling to Malaysia can buy things using cashless payment services like DBS PayLah using the QR Code on their smartphones.
And if you think you’ll have to wait long, you couldn’t be more wrong. It should be up and running “within the next six months”, so keep your eyes peeled for that!
I don’t know about you, but I’m looking forward to not having to find the nearest money changer as soon as I step in Johor Bahru.
