NETS recently announced the launch of same-day settlement for hawkers every day – the fastest in the industry. The initiative will enable hawkers to receive their sales proceeds in their bank account on the same business day, giving them faster access to their funds and improving cash flow.
Improving Hawkers’ Cashflow
No special arrangements are required to enjoy the benefit of same-day settlement – all NETS transactions made before 5pm will be credited to the hawkers’ DBS, OCBC or UOB bank accounts by 11pm the same day. NETS transactions made after 5pm will be credited to the hawkers’ bank accounts before 9am the next business day.
This allows hawkers to make their own payments to their suppliers and vendors before the start of the work day for most businesses.