This Partnership Offers A Seamless Automatic Top-up Solution Benefitting All Companies Operating Locally
Singapore – Citibank Singapore today announced that it has entered into a landmark partnership with EZ-Link Pte Ltd (EZ-Link) to offer a seamless automatic top-up solution for the payment of Electronic Parking System (EPS) parking fees and Electronic Road Pricing (ERP) gantry fees for its Commercial Card customers. Citibank is the first bank in Singapore to collaborate with EZ-Link on this business-to-business (B2B) offering, called EZ-Reload Corporate Service, that aims to redefine the way in which companies manage their corporate fleet.
Companies will be able to link their ez-link cards issued by EZ-Link to the EZ-Reload Corporate Service using their Citibank Commercial Card account, which will be automatically topped up whenever they fall short of the stored value for payment. Such payment solution offers greater convenience, cost-savings and ease to the companies in managing their corporate fleet.
Up to 1,000 ez-link cards can be linked to a Citibank Commercial Card account, presenting companies with an effective yet secure way to manage their fleet of vehicles. Companies will also have the flexibility of choosing between an amount of S$20, S$30 or S$40 for each top-up. The administrative fees for the top-ups will be waived starting from 1 November 2015.
Mr. Han Kwee Juan, Chief Executive Officer, Citibank Singapore, said: “We are very pleased to be the first and only bank in Singapore to partner EZ-Link to offer this simple yet highly effective B2B solution to our Commercial Card customers. The benefits of this automatic top-up service extend beyond being just a convenient payment solution. Our customers, especially those maintaining a large fleet of vehicles, will find this service extremely beneficial in helping them to better streamline their business operations and manage their cash flow and expenses. We will continue to introduce new product and service offerings that enhance our value proposition to our customers.”
Mr. Nicholas Lee, Chief Executive Officer, EZ-Link Pte Ltd, said: “This partnership with Citibank showcases EZ-Link’s ability in elevating our cashless payment innovations and the service is our first foray to provide business solutions to support corporate needs. Leveraging on our experience and expertise in providing automatic top-up convenience to commuters, we have enhanced EZ-Reload for the benefit of Citibank Commercial Card customers. With the EZ-Reload Corporate Service, businesses are now able to effectively manage the disbursement and reimbursement of ERP and EPS usage of their fleet, eliminate unwarranted spending due to insufficient card value and improve operations through tracking reports. These capabilities will enable them to optimise their organisational framework and increase their operational productivity.”
EZ-Link cards comply with the Singapore standard for Contactless e-Purse Application (CEPAS), an important initiative under Singapore’s iN2015 Infocomm Masterplan that is spearheaded by the Infocomm Development Authority of Singapore (IDA) to develop a cashless nation-wide e-payment platform. EZ-Link cards can be used at all CEPAS-enabled car parks and are compatible with the second generation In-Vehicle Unit (IU) device.
In signing up for this B2B solution, companies will also get to access the detailed usage and posting reports generated by EZ-Link for account reconciliation purposes. They can also leverage on the data provided by EZ-Link to help them plan and track the routes taken by their fleet more accurately. Most importantly, the cashless feature of the service will protect companies from having to incur unnecessary ERP fines in the event that their fleet passes through the gantry with insufficient funds in their cash card. To find out more about the service, customers can visit EZ-Link’s website at www.ezlink.com.sg.
Companies choosing to card their spend with their Citibank Commercial Cards can also benefit from the numerous discounts and rebates offered by Citibank, all of which translate into further cost-savings for them.
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About Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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About EZ-Link
EZ-Link Pte Ltd was formed on 8 January 2002. Its core business is the clearing and settlement of all ez-link card transactions generated in transit and non-transit (retail/merchant) environments, as well as the sale, distribution and overall management of ez-link cards. To date, more than 17 million new CEPAS-compliant ez-link cards have been issued. This is in tandem with the government’s plan to promote cashless payments in Singapore. In line with this vision, the new ez-link card is now also accepted as a mode of payment for Electronic Road Pricing (ERP) and at carparks fitted with the Electronic Payment System (EPS) when used in the dual-mode in-vehicle unit. In 2013, EZ-Link launched the “My EZ-Link Mobile” application, the world’s first Near Field Communication (NFC) mobile application for contactless card top-ups. In 2015, EZ-Link unveiled two new innovations in Singapore, EZ-Charms, the first non-card form factor, as well as the EZ-Link rewards scheme with Perx to reward commuters for using public transport with the ez-link card.