SINGAPORE: Payments service provider NETS on Wednesday (May 2) launched a new contactless CashCard that will be compatible with the new On-Board Units (OBUs) used for the upcoming satellite-based Electronic Road Pricing (ERP) system.
The new ERP system is expected to be operational by 2020, and the Land Transport Authority has said that the Government will foot the one-time cost for Singapore-registered vehicles to replace their existing second-generation In-Vehicle Units (IUs) with OBUs.
In a media release, NETS said its new contactless CashCard can be used with existing second-generation IUs. It will also be compatible with the new OBUs when they are launched.
The new contactless CashCard will be compatible with the new On-Board Units used for the upcoming satellite-based ERP system. (Image: NETS)
Motorists can use the card to tap and pay for car park charges, and can also insert the card into their IUs to pay for ERP charges.
They can also track transactions and sign up to top up their cards automatically with a Contactless CashCard mobile app, NETS added.
NETS head of products and business development Alvin Seck said the CashCard has been synonymous with car park and ERP charges since it was launched in 1996.
“We want to ensure that motorists continue to enjoy a seamless and swift payment experience at all car parks, regardless of the type of IU that they are using.”
The new contactless CashCard retails for S$10, including S$5 in stored value, at all 7-Eleven, Cheers, Caltex and VICOM outlets. It can also be purchased from the NETS FlashPay website.
