Home Car Articles News News Listings Other News

vCashCard offers motorists a hassle-free driving experience

16 Jun 2015|13,863 views

NETS partners with LTA and UOB to offer free top-ups for the first year to motorists who have signed up for vCashCard using their UOB credit cards.

vCashCard will be extended to car park payments during Phase 2 later this year

Motorists need not worry if they do not have a physical CashCard or there are insufficient funds in the CashCard even if they pass through an operational ERP gantry. They are required to register for a vCashCard account via the NETS website.

"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.

Said Mr. Chew Men Leong, LTA's Chief Executive, "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."

The vCashCard works with first and second generation In-Vehicle Units (I.U.) and will be extended to include car park payments next year as well as in future road payment systems. The vCashCard account will automatically be topped up with $50 whenever the amount in the account falls below $10.

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."

The subscription to vCashCard is completely free. A $0.50 (GST inclusive) top-up fee is payable for each vCashCard top up. Motorists who sign up for this service using their UOB credit card will have their top-up fees waived for the first year.

NETS and LTA (The Land Transport Authority) have officially launched vCashCard, a virtual wallet that enables customers to pay for ERP (Electronic Road Pricing) charges. This basically 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.

Motorists need not worry if they do not have a physical CashCard or there are insufficient funds in the CashCard even if they pass through an operational ERP gantry. They are required to register for a vCashCard account via the NETS website.

"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.

Said Mr. Chew Men Leong, LTA's Chief Executive, "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."

The vCashCard works with first and second generation In-Vehicle Units (I.U.) and will be extended to include car park payments next year as well as in future road payment systems. The vCashCard account will automatically be topped up with $50 whenever the amount in the account falls below $10.

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."

The subscription to vCashCard is completely free. A $0.50 (GST inclusive) top-up fee is payable for each vCashCard top up. Motorists who sign up for this service using their UOB credit card will have their top-up fees waived for the first year.