DigitalCFO Newsroom | 29 April 2022
EZ-Link Pte Ltd, pioneer of contactless payments in Singapore, today announced the launch of its enhanced EZ-Link Wallet.
EZ-Link Pte Ltd, pioneer of contactless payments in Singapore, today announced the launch of its enhanced EZ-Link Wallet. Developed in collaboration with global payment technology company, Mastercard, the new Pay by Wallet with Mastercard® feature is the first digital wallet product globally to leverage Mastercard’s Pay by Account technology for making contactless and e-commerce payments including recurring payments at Mastercard accepting merchants worldwide.
“As consumers’ lifestyles continue to evolve with increasing digitalisation, we will transform alongside them to serve their everyday needs. Pay by Wallet will empower consumers with greater flexibility and convenience when making domestic and cross border payments digitally,” said Nicholas Lee, CEO, EZ-Link.
Enabling More Convenient And Inclusive Digital Payment Services For All Singaporeans
When users activate Pay by Wallet, they can use their EZ-Link Wallet to make online and in-store contactless payments at over 80 million Mastercard merchants worldwide. This means that they can use Pay by Wallet to shop online, as well as manage subscriptions for services like Netflix, Disney+, Spotify, gym membership, ride-hailing and more. Users will also be able to add Pay by Wallet to Google Pay1to make contactless mobile payments for both retail and transit2transactions.
This expansion of the EZ-Link Wallet’s acceptance points comes off the back of EZ-Link’s ongoing strategy to strengthen its ecosystem of digital services and capture the digital payments market. With e-commerce on the rise, consumers are increasingly turning to digital wallets to fuel their online transactions. The introduction of Pay by Wallet aims to empower more consumers across all walks of life to access digital payments capabilities in line with their needs, and participate in the digital economy.
“With Pay by Wallet, users can eliminate hassle and enjoy greater convenience and rewards throughout their daily lives. At EZ-Link, we have built a strong anchor in transportation, and will continue to build on that success by steadily penetrating the digital marketplace to enable more inclusive digital payment services for Singaporeans,” said Nicholas Lee, CEO, EZ-Link.
Rewarding Consumers’ Everyday Payments With Winning Offers
Through EZ-Link and Mastercard’s partnership, Pay by Wallet users will also see greater value and rewards. Users can earn EZ-Link Rewards points with every transaction3 and redeem them for benefits from over 200 merchants on the EZ-Link Rewards platform, which range from F&B, retail, motoring and more. Pay by Wallet users will also be entitled to exclusive offers across Mastercard’s Priceless™ Specials, a curated list of offers that cut across key passion pillars of Eat, Play, Shop and Stay.
“Mastercard is delighted to partner EZ-Link to power the growth of the digital payments ecosystem in Singapore,” said Deborah Heng, Country Manager, Singapore, Mastercard. “With the value of digital wallet transactions expected to grow, this innovative Pay by Account technology is timely and will allow EZ-Link to expand its reach by offering 5 million users the ability to transact anywhere and anytime, leveraging Mastercard’s comprehensive global acceptance.”
“According to a survey4 commissioned by Mastercard, 71% of global customers prefer transacting on a single all-in-one integrated payments solution to satisfy their payment needs. This strategic partnership is aligned with our efforts to enable payments that are safe, secure, and seamless for the everyday consumer,” she added.
Sign-up Bonus And Lucky Draw Prizes To Be Won
As part of the launch, EZ-Link is offering a sign-up bonus to the first 20,000 users who activate Pay by Wallet on their EZ-Link App. They will receive S$5 credit upon sign-up, and an additional S$5 cashback on their first spend5. This campaign runs until 31 July 2022. During the same period, users who pay with EZ-Link Pay by Wallet will automatically be enrolled in a lucky draw6, and stand to win prizes including 2D1N staycation packages at Resorts World Sentosa and Universal Studios
