Malaysian ATM Cards Now Usable In Singapore Stores

Let’s face it, we have troubles converting currency when we travel outside the country (well, maybe that’s just me) but now it seems that it’s more convenient in Singapore as Malaysia’s Paynet and NETS has announced that they are now accepting each other’s card.

For NETS ATM cards, Singaporeans can use it across 7400 stores in Johor Bahru, Kuala Lumpur, Penang, and Melaka that accepts PayNet.

On the other hand, Malaysians will be able to use their MyDebit cards to 500 stores in Singapore.

Paynet’s CEO Peter Schiesser has said that the payment providers will not charge any foreign exchange fees. He says “To be able to freely use MyDebit ATMs not only provides the convenience (to Malaysian tourists in Singapore) byt also benefits businesses in Singapore which translate into higher cashless cross-border transactions”.

In the future, both NETS and PayNet aims to provide cross-border instant fund transfer as well as QR payments for more convenience.

Pokdepinion: Well this makes my next trip to Singapore more of a breeze. Less hassle to think about exchanging my money. Let’s just hope that the shops that’s participating are ones that I would go to.