New Epins Service In Singapore Supports PIN-Debit Payments.(Brief article)

Byline: Ankush Chibber

Two foreign banks operating in Singapore will be the first to use a service launched on June 21 that enables consumers to shop using their ATM and debit cards, according to Card Alliance Pte. Ltd., which is providing the service.

In Singapore, holders of ATM and debit cards of foreign banks historically have only been able to withdraw cash from ATMs. Only cardholders from three local banks-OCBC Bank Ltd., United Overseas Bank Ltd. and DBS Bank Ltd-have been able to make debit purchases through NETS, or Network for Electronic Transfers (Singapore). The three banks own the network.

The new service, called Epins, enables cardholders of …