SINGAPORE: DBS and POSB cardholders who drive need not have a CashCard in their In-Vehicle Unit (IU) when they go through an Electronic Road Pricing (ERP) gantry - if they are registered for the EZ-Pay service.
Offered by EZ-Link, the company announced on Wednesday (Mar 15) that it is extending the service to DBS and POSB credit and debit cardholders. The free service, which was launched last August, was previously only available to Citibank cardholders.
With EZ-Pay, ERP charges are billed directly to the registered credit card, if there is insufficient value in the CashCard or if motorists forget to insert the card into their vehicles' IU. However, if the CashCard has enough funds, then the ERP charge will be deducted directly from the card.
Customers can check records of ERP transactions by logging in to their EZ-Pay accounts or referring to their monthly credit card statements, said EZ-Link in a media release.
"The expansion of EZ-Pay for DBS and POSB card holders further demonstrates the potential of account-based payment service in bringing about convenient and secured payments to motorists ... preventing unwanted hassle and negating the need to top-up stored-value card,” said CEO of EZ-Link Nicholas Lee. "This presents the future of motoring."
He added that the company is working to bring the service to other banks.