Issued By: EZ-Link Pte Ltd, Green Dot Payment Services Pte Ltd
EZ-Link Pte Ltd has signed a Memorandum of Understanding (MOU) with Green Dot Payment Services Pte Ltd to work on the terms and framework for Green Dot Payment Services to expand the use of the ez-link Card beyond public transport for general micro-payments.
The ez-link Card, introduced in April 2002 for use on travel on the public transport system, makes use of the contactless smart card (CSC) technology. Already there are some 2.2 million cards in circulation and the user base is expected to increase substantially over time. With the technology, there is significant potential for the ez-link Card to be used as a multi-purpose stored value card as well as for other applications.
With this large user base, Green Dot Payment Services aims to work towards entrenching the ez-link Card as the payment infrastructure in Singapore over next 15 years, in wallets, at points-of-transactions and as a distinct new national platform for micro-payments and eventually, electronic card-based payments. The MOU will provide a framework for collaboration and allow EZ-Link Pte Ltd to facilitate the proliferation of the ez-link Card for applications beyond transit.
Green Dot Payment Services will also be engaged in technology development and enhancement with the introduction of new applications on the CSC platform and terminals. The know-how and experience gained from operating in the Singapore market will enable the ez-link Card model for transit and non-transit applications to be exported into overseas markets.
We are pleased with the proposal submitted by Green Dot Payment Services. With the MOU, we can further explore possible strategies and programmes to proliferate the use of the ez-link Cards as the preferred mode of micro-payments in Singapore,” said Mr Silvester Prakasam, General Manager of EZ-Link Pte Ltd.
"Green Dot Payment is very keen to have this opportunity to collaborate with EZ-Link Pte Ltd to advance the national agenda of transforming Singapore into a cashless society. The CSC technology will deliver greater convenience and productivity on both personal and commercial levels," said Mr Hilary Quah, President, Green Dot Payment Services.