Monday, March 13, 2017

Bye EZ Link, Bye NETS Flash Pay, Hello MasterCard?

A while back ago, there was a news piece that quietly slipped past the radars of most people, but I read it with quite some keen interest. It was an article about how it was going to be possible to pay for public transport directly with your contactless credit card and charged through the credit card network instead of going through a stored value wallet.

I recently saw a Facebook campaign by POSB asking ppl to sign up for this service, although they did have a promotion to have 3 free rides if you register before the... 12th. But today is the 13th, oh well.

Anyway, I still signed up for the service.

Why do I think that it is good?

1) No more stored value wallets
2) No more top-up charges
3) Possibly free up 1 card space in your wallet

Personally, as much as I like the ATU / Reload function of the EZ and NETS cards, I don't like that I have to top up like $50 into my card and slowly draw it down over the next month or two.

I also don't like paying a small admin fee to have this top-up service every single time. Of course I understand that there is some cost involved, but of course free would be better, right?

With this new change, hopefully I can refund the balance in my NETS Flashpay stored wallet, retire that card, and just use my newer card that is linked to this direct deduction service.

I really don't like having so many cards in my wallet. Now all I need to do after this is to figure out which credit card do I want to keep, and which do I want to ditch for good...

6 comments:

  1. seems like POSB have extended the promotion "Simply register your POSB/DBS Mastercard Card for the Account-Based Ticketing pilot programme by 19 March 2017. All successful applicants will enjoy 100% cashback on the first 3 rides* from 20 March to 20 April 2017!"

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    1. Hey Serendib, very nice catch there! Seems like they updated their page between the time I posted and when you read. Anyway, 3 free rides... I don't mind more free stuff, haha!

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  2. Would this credit card attract an annual fee?

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    1. Hey Starlight, it could also be used with the debit cards as well. The only fee would probably be your credit / debit card fee, which you can usually get waived. I signed up for my POSB PAssion card free for 5 years, heh!

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  3. Your post is awesome! Thanks!

    By the way, latest update. They remove the "by when" clause. So it now:

    "Simply register your POSB/DBS Mastercard Card for the Account-Based Ticketing pilot programme. All successful applicants will enjoy 100% cashback on the first 3 rides1 from 20 March to 20 April 2017!"

    So as long as you clock 3 rides by 20 April, I assume you will get 100% cashback.

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    1. Good catch Kaiz. I guess POSB/DBS had to up their ante with all the other banks coming up with other sorts of transport promos to get consumer to switch out their EZ links and take up their bank cards intense. Competition is good for us consumers, haha

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