NETS Bulk Payment
Secure next-generation bulk payment solutions
Process scheduled bulk payment transactions efficiently and securely with Singapore’s choice for low value inter-bank scheduled payment systems. NETS Bulk Payment adheres to the latest financial industry messaging standards to ensure speed and accuracy in every transaction.
About
What is NETS Bulk Payment?
NETS Bulk Payment is used by banks nationwide to provide direct debit and credit services to corporate customers. In turn, these customers, including telecommunications, insurance and utilities companies, offer this as a free service to their end-users to automate scheduled payments for their regular bills. NETS Bulk Payment can also be used by corporations and organisations to directly credit salaries from their bank accounts to their employees’ accounts.
scroll / Swipe to view more >>
Benefits
Why NETS Bulk Payment?
Same-day clearance
Regardless of the volume, NETS Bulk Payment offers same-day clearing capabilities with both outward and inward returns completed on the same day. NETS Bulk Payment can also be configured to allow for multiple clearing and settlement windows of your choice based on your needs.
Seamless connectivity
A high-volume payment solution that adheres to international financial messaging standards ISO 20022, NETS Bulk Payment provides improved interoperability for banks to transmit and receive bulk payments to and from the Clearing House electronically anywhere via a secure communication channel.
Flexible configuration
NETS Bulk Payment allows for multiple ways to receive process and route transactions to and from the clearing house via a browser-based system or NETS Gateway for straight-through processing (STP). The STP system enables fully automated uploading and downloading of files to and from the clearing house.
Accuracy
assured
The maker-checker application, accessible via a web portal, ensures that messages sent are verified and authorised. This establishes the accuracy of transactions and offers a means for correction, if required.
High-speed with the ability to process one million transactions within a specific window
World’s first bulk payment system to use the Payment and Clearing Settlement (PACS) message set in Payments catalog with ISO 20022 messaging standards
Single view of debit and credit transactions
Supports multi-currencies enabling cross-border capabilities
Same-day clearance
Regardless of the volume, NETS Bulk Payment offers same-day clearing capabilities with both outward and inward returns completed on the same day. NETS Bulk Payment can also be configured to allow for multiple clearing and settlement windows of your choice based on your needs.
Seamless connectivity
A high-volume payment solution that adheres to international financial messaging standards ISO 20022, NETS Bulk Payment provides improved interoperability for banks to transmit and receive bulk payments to and from the Clearing House electronically anywhere via a secure communication channel.
Flexible configuration
NETS Bulk Payment allows for multiple ways to receive process and route transactions to and from the clearing house via a browser-based system or NETS Gateway for straight-through processing (STP). The STP system enables fully automated uploading and downloading of files to and from the clearing house.
Accuracy assured
The maker-checker application, accessible via a web portal, ensures that messages sent are verified and authorised. This establishes the accuracy of transactions and offers a means for correction, if required.
