SINGAPORE - Local travel card issuer EZ-Link and Malaysia's Touch 'n Go announced on Tuesday (April 9) that they are planning to introduce a dual-currency cross-border Combi Card in the fourth quarter of 2019.
This comes after the collaboration was cited in the joint statement by Prime Minister Lee Hsien Loong and his Malaysian counterpart Dr Mahathir Mohamadfollowing their Leaders' Retreat in Putrajaya on Tuesday.
Both leaders welcomed the good progress made by both companies to launch the Combi Card that can be used by motorists who travel in both countries.
"When officially implemented, the dual-currency Combi Card would allow users to pay for road tolls and parking charges in both countries with the same card," said the statement.
The Combi Card will securely host both electronic wallets from EZ-Link and Touch 'n Go, a first in South-east Asia, said a joint statement by both companies on Tuesday.
The card is targeted for a fourth quarter launch this year.
EZ-Link chief executive Nicholas Lee said that the company is excited to partner with Touch 'n Go to make it possible for Singaporeans to conveniently pay for electronic road pricing in Singapore, highway tolls in Malaysia and parking - and shopping and dining in the future - with just one card.
"It will be a milestone in EZ-Link's efforts to continuously innovate to transform people's lives with technology," he added.
Touch 'n Go chief executive Syahrunizam Tan Sri Samsudin said: "This synergy between Touch 'n Go and EZ-Link to create a dual-currency cross-border Combi Card will undoubtedly make daily transactions fuss-free for Malaysian and Singaporean consumers with faster, simpler and more secure payment options."
This announcement follows the signing of a Memorandum of Understanding between EZ-Link and Touch 'n Go on July 30, 2017.
To date, EZ-Link has issued about 30 million Cepas ez-link cards in Singapore and Touch 'n Go has more than 23 million active Touch 'n Go cards in circulation in Malaysia.
This article was first published in The Straits Times. Permission required for reproduction.