Singapore-based payments service company NETS has unveiled a new contactless CashCard designed to work with the new satellite-based electronic road pricing (ERP) system in the country.
The card will be compatible with both existing second-generation in-vehicle units (IUs) and the new on-board units (OBUs) used for the ERP system, which is scheduled to be operational by 2020.
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Customers can tap the CashCard on current units to pay for car park charges, or can insert the card into their new IUs for automatic payment.
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 company is planning to launch an accompanying mobile app to allow tracking of CashCard transactions and automatic top-up.
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By GlobalDataThe card is available at 7-Eleven, Cheers, Caltex and Vicom stores and on the NETS FlashPay website.
