EZ-Link's bid to be the jack of all digi payment trades, not master of one

Singapore's public transport payment card, EZ-Link wants to delink its transport-only association and break into digital payments. Its massive user base can carry it to the top of the digital payments leaderboard. But tech startups, banks aren't going to make it 'EZ'

Being Singapore’s sole public transport payment provider has secured EZ-Link’s position in the payments sphere, but it’s looking to do more

Competitors like GrabPay and FavePay has zoomed past EZ-Link, and the payment provider knows it’s playing catch up

Utilising its strength, a captive customer base of about 300,000 active users, EZ-Link is looking to cater to concession card holders with micro-payments

Despite missing out on a digital bank license, the payment provider is also casting its eyes beyond Singapore’s shores to tap into potential usage overseas

This is the only cashless mode of payment people in Singapore use for their daily commute—be it buses or trains. One tap, a beep, and if your EZ-Link card is topped up, you’re good to go.

The two-decade-old government-owned payment provider will never lose its pole position as it has a clear monopoly on public transport payments. But why stop at having nothing to lose where there’s much to gain? EZ-Link has been in a competitive mood, and it’s been taking on e-payment providers like GrabPay and Fave in the competitive market.

In 2019, EZ-Link built out an e-wallet, and in early-2020, it tied up with payment service provider Alipay for overseas payments.

AUTHOR

Benjamin Cher

Based in Singapore, Ben covers news and stories from the hub of Southeast Asia. He covers the intersection of technology and business, and how it affects Singapore and Southeast Asia. Ben was previously a reporter at The Edge Singapore.

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