SINGAPORE — Two more local banks have joined payment solutions provider Nets' mobile application Singapore , which allows customers to make payments using their mobile phones, instead of the physical ATM cards.

Together with DBS and POSB, the latest entrants in the Nets cashless ecosystem — OCBC Bank and UOB — will allow over 11 million Nets cardholders to make e-payment through the NetsPay mobile application.

The app will allow users to store up to 10 ATM cards digitally, and make payments with a tap on their mobile phones or by scanning a QR code, Nets said in a statement on Monday (June 18). There are currently over 105,000 acceptance points island-wide.

For transactions that are below S$100, users will not have to key their PIN number before making payment.