CARDLESS payments when motorists are passing through Electronic Road Pricing (ERP) gantries will become possible from May 28.
The Land Transport Authority on Tuesday said motorists can sign up for vCashCard, a new service that allows motorists to pay for their ERP charges using their credit or 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 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.
"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 Seow Chow Wei, vice-president, cards & micropayments, product development, at Nets.
"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," said LTA chief executive Chew Men Leong.
vCashCard works with first and second generation In-Vehicle Units (IU) as well as in future road payment systems.
Registration can be done at vcashcard.nets.com.sg.
On successful registration, the vCashCard account will be topped up with S$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 S$50 whenever the amount in the account falls below S$10. There are no administrative fees, and registration is free.
Nets will launch phase two of this service later this year, in which vCashCard will be extended to car park payments.