NETS and LTA Launch Virtual Wallet for a Hassle-Free, Seamless Driving Experience; Partnering with UOB to offer free top-ups for first year
Free Registration, Free Subscription & Automatic Top-Ups
Forgot to top-up your CashCard? Motorists will no longer have to worry when that happens even if they pass through an operational Electronic Road Pricing (ERP) gantry.
From 28 May, motorists can sign up for vCashCard, a new service that allows motorists to pay for their ERP charges using their credit/debit cards or via their bank account without the need for a physical stored-value card. This service is provided by NETS, in partnership with the Land Transport Authority (LTA) and United Overseas Bank (UOB). Motorists who sign up for vCashCard using their UOB credit card will have their top-up fees waived for the first year.
Motorists can register for a vCashCard account via the NETS website at vcashcard.nets.com.sg.
Said LTA’s Chief Executive Mr Chew Men Leong: “We are constantly exploring the use of technology to provide greater convenience to our land transport users. With vCashCard, motorists will have the convenience of not having a physical CashCard, as well as the flexibility of tracking how much they are spending on ERP charges. LTA will continue working with other third-party service providers to offer more e-payment channels that will bring convenience to more motorists.”
“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,” Mr Seow added.
Ms Jacquelyn Tan, Managing Director and Regional Head of Cards and Payments, UOB, said, “One in two Singaporeans is a UOB credit cardmember and many of them are motorists. Our cardmembers want convenience in their daily commute and with vCashCard, they no longer have to worry about placing the CashCard back in the in-vehicle unit or topping up their CashCards manually. We are delighted to work with NETS and LTA on the launch of vCashCard to extend the convenience of free automatic top-ups to our cardmembers, for a hassle-free journey.”
How does it work?
- Motorists register for a vCashCard account via the NETS website at vcashcard.nets.com.sg.
- Upon successful registration, the vCashCard account will be topped-up with $50 from the registered credit/debit card or bank account. The ERP charges incurred will be deducted directly from the vCashCard account.
- The vCashCard account will automatically be topped up with $50 whenever the amount in the vCashCard account falls below $10.
- No admin fees
- Free registration
- Free top-ups with UOB credit cards
The first phase of vCashCard allows motorists to use the service for ERP charges. NETS will launch Phase 2 of this service, in which vCashCard will be extended to car park payments, later this year.