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SINGAPORE: The Land Transport Authority (LTA) and NETS have launched a virtual wallet for drivers.
The service - vCashCard - allows motorists to pay for their Electronic Road Pricing (ERP) gantry charges using their credit or debit card, or via their bank account without the need for a physical stored-value card, or when the CashCard has run out of money.
Motorists can sign up from the vCashCard from May 28 via the NETS website. When a motorist registers for a vCashCard account, the the virtual wallet will be topped up with S$50 from the registered credit or debit card, or bank account. And when the motorist passes through a gantry with a CashCard in the IU with insufficient value, the full ERP amount will be deducted from the vCashCard.
Once the amount in the vCashCard falls below S$10, it will be automatically topped up with another S$50 from the registered credit or debit card, or bank account.
No amount will be deducted from the vCashCard if a CashCard in the IU has sufficient value.
Subscription to vCashCard is free, however a S$0.50 (GST inclusive) top-up fee is payable for each vCashCard top up. Motorists who sign up for the vCashCard using their United Overseas Bank (UOB) card or UOB Internet Banking account will enjoy free top-up fees for the first year.
“We’ve all been in that situation before where you realise moments before passing through the ERP gantry that you might not have enough value on your card to pay the ERP charge,” said Mr Seow Chow Wei, Vice President, Cards & Micropayments, Product Development, NETS. “vCashCard is positioned to work with first and second generation In-Vehicle Units (IU) as well as in future road payment systems.”
This announcement is for the first phase of the new service. In phase two, the vCashCard can also be used at car parks.
- CNA/ek
The service - vCashCard - allows motorists to pay for their Electronic Road Pricing (ERP) gantry charges using their credit or debit card, or via their bank account without the need for a physical stored-value card, or when the CashCard has run out of money.
Motorists can sign up from the vCashCard from May 28 via the NETS website. When a motorist registers for a vCashCard account, the the virtual wallet will be topped up with S$50 from the registered credit or debit card, or bank account. And when the motorist passes through a gantry with a CashCard in the IU with insufficient value, the full ERP amount will be deducted from the vCashCard.
Once the amount in the vCashCard falls below S$10, it will be automatically topped up with another S$50 from the registered credit or debit card, or bank account.
No amount will be deducted from the vCashCard if a CashCard in the IU has sufficient value.
Subscription to vCashCard is free, however a S$0.50 (GST inclusive) top-up fee is payable for each vCashCard top up. Motorists who sign up for the vCashCard using their United Overseas Bank (UOB) card or UOB Internet Banking account will enjoy free top-up fees for the first year.
“We’ve all been in that situation before where you realise moments before passing through the ERP gantry that you might not have enough value on your card to pay the ERP charge,” said Mr Seow Chow Wei, Vice President, Cards & Micropayments, Product Development, NETS. “vCashCard is positioned to work with first and second generation In-Vehicle Units (IU) as well as in future road payment systems.”
This announcement is for the first phase of the new service. In phase two, the vCashCard can also be used at car parks.
- CNA/ek
