Contactless and Mobile Payment at General Ticketing Machines to be Extended to all Local and Foreign Credit and Debit Cards With Effect From 1 January 2017
More switching to Cashless Payment at General Ticketing Machines
with 40% of Top-up of CEPAS Cards made using NETS, Credit and Debit Cards
SINGAPORE, 29 DECEMBER 2016 – Starting 1 January 2017, commuters will be able to use their credit and debit cards from any bank to top up their CEPAS cards at the General Ticketing Machines (GTMs) across MRT stations island-wide. All foreign-issued credit and debit cards will also be accepted.
Encouraging commuters to switch to cashless payments
with the additional credit and debit card payment option
No Transaction Fee and Higher Top-up Payment Limit
2 For Singapore-issued credit and debit cards, there will be no additional charges applicable when these cards are used to top up the CEPAS card, including via contactless or mobile payment modes. For foreign-issued cards, there will also be no convenience fees levied, but prevailing foreign exchange rates will apply based on the respective card issuing banks.
3 In addition, to provide greater convenience to commuters, the maximum daily payment limit will also be increased from the current $40 to $100 per credit or debit card per day. This means that commuters need to top up their CEPAS cards less frequently and enjoy greater convenience when they top up their cards.
More Switching to Cashless Payment at the General Ticketing Machines
4 The credit and debit card payment option at the GTMs was launched on 1 July this year on a pilot basis for Singapore-issued UOB Visa, UOB MasterCard and UOB JCB cards. The outcome has been very encouraging as more commuters have switched from cash to cashless payment mode to top-up their CEPAS cards.
5 Before the launch, cash top-up accounted for 63% of total top-up value at GTMs, while cashless payment via NETS (the only cashless mode available then) made up about 37% of top-up value. In the five months following the launch, the number of transactions using credit/debit cards rose steadily from 800 on the first day to an average of 1,800 transactions per day in November. The total value of cashless transactions using credit or debit cards in the same month was over $1.5 million. As a result, cashless payment including both NETS and credit/debit cards, has risen from 37% to 40% of total top-up value, representing a 3% shift from cash to cashless mode of payment during the trial with only UOB Cards.
6 “We are very encouraged by the results of the pilot launch and have therefore decided to proceed with the extension to all local and foreign-issued credit and debit cards.” said Mr Lee Yuen Hee, Chief Executive Officer, Transit Link Pte Ltd. “By expanding the coverage, both local and foreign commuters will find it more convenient to top-up their CEPAS cards without having to use cash. This is part and parcel of our drive towards making Singapore a cashless society. We hope to see cashless top-up increase by another 10% by the end of 2017.” he added.