EZ-Link Joined Forces with Malaysia’s Touch ‘N Go to Issue a Multi-Currency Joint Cardby Fintech News Singapore April 10, 2019
Due to a variety of reasons, Singapore’s EZ-Link and Malaysia’s Touch ‘n Go cards are synonymous with travel in their respective countries. With travel across the causeway so common among residents of both, it is about time for a new partnership between the two, slated for launch in Q4 2019.
EZ-Link and Touch ‘n Go will soon issue a dual currency Combi Card—which will host both e-wallets from EZ-Link and Touch ‘n Go.
For now, the Combi Card is planned for use to pay for electronic road pricing in Singapore, tolls in Malaysia, and parking, though the companies hint at potential further use; like shopping and dining, it seems.
The announcement follows the signing of a Memorandum of Understanding (MoU) between EZ-Link and Touch ‘n Go on 30 July 2017.
EZ-Link is owned by the Land Transport Authority (LTA), and in August last year, CEO Nicholas Lee admitted that the company is trailing behind competitors on the innovation front. In an interview with Channel NewsAsia, it was said that it’s been hard work to keep the electronic payment system provider to relevant in an arena where it was once a market leader.
Recently, EZ-Link is faced with competition when the LTA launched SimplyGo, which allows Singaporeans to use either their MasterCard or their e-wallets to pay for transportation, with Visa functionality on the way. Later, EZ-Link announced a digital push via the launch of an e-wallet, in a bid to stay relevant with evolving market demands.
It’s said that thousands of Singaporeans now live in Johor and commute to Singapore to work every day, and an average of 16 million people travel to Malaysia from Singapore yearly (though normal yearly fluctuations do come into play).
To date, EZ-Link claims to have issued about 30 million CEPAS ez-link cards in Singapore, and Touch ‘n Go claims to have more than 23 million active Touch ‘n Go cards in circulation in Malaysia.
Featured image via Johor Transport