Virtual CashCard aims to solve ERP woes, ST, 26/5/2015
Current Situation: Motorists caught with insufficient funds or without a CashCard in their IUs pay an administrative fee of $10, on top of the ERP charges they owe.
Nets is launching the vCashCard with the Land Transport Authority (LTA) on Thursday (28/5/2015).
It allows motorists to pay electronic road pricing (ERP) charges even when they have no physical CashCard in their in-vehicle units (IUs) or if a CashCard is there but has run low on funds.
To use the new service, motorists should register for a vCashCard account via the Nets website at vcashcard.nets.com.sg. This account is first topped up with $50 from the registered credit or debit card or bank account.
ERP charges are deducted directly from the vCashCard account when there is no physical CashCard in the IU. If you have a card in the IU when passing through a gantry, it works as usual and ERP charges will be deducted from it.
When funds in the vCashCard fall below $10, the virtual wallet will automatically be topped up with $50 from one of your accounts linked to the wallet.
Subscription to vCashCard is free, and the top-up fee each time is 50 cents, but that will be waived for motorists who sign up with a United Overseas Bank card or Internet banking account, for the first year.
Nets is also working on a second phase of the service, so that it can also be used at electronic parking system carparks.