Singapore and china to launch dual-currency transit card

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EZ-Link rolls out world’s first dual-currency transit card

GUANGZHOU — Singapore company EZ-Link unveiled the world’s first dual-currency transit card that can be used across international borders at the fifth Singapore-Guangdong Collaboration Council (SGCC) meeting in Guangzhou today (Aug 21).

The SINO Visitor Pass, developed jointly with Guangdong Lingnan Pass, will be issued by both companies in Singapore and Guangdong and will carry two currencies — the Singapore dollar and renminbi (RMB) — which can be used at all points that accept either EZ-Link cards or Lingnan Pass.

The card is expected to be officially launched in both markets in the first half of next year, enabling SINO Visitor Pass users to make payments at over 100,000 retail and transit points.

In the second phase of development, EZ-Link and Guangdong Lingnan Pass intend to extend usage of the card to payment for a wider range of items including goods, services and tickets of tourist attractions and performances. There are also plans to widen the card usage to other parts of China.

The unveiling in Guangzhou was witnessed by SGCC co-Chairmen, Singapore’s Minister for Transport Lui Tuck Yew and Guangdong Vice-Governor Zhao Yufang.

“We have a strong and mutually beneficial partnership with Guangdong. As Singapore companies contribute to Guangdong’s economic transformation, Singapore is also seeing strong number of Guangdong tourists and businesses here,” Mr Lui in his closing address.

“Last year, we received 266,000 Guangdong tourists; this is about 15 per cent of total Chinese visitors to Singapore. In the same year, 12 Guangdong companies with a combined investment of US$240 million (S$306.4 million) set up presence here. We are pleased with these positive developments and hope to do more with Guangdong.”

Guangdong was one of the earliest Chinese provinces to embrace reforms and has led China’s provinces in GDP growth for 24 consecutive years.

Following the meeting, Mr Lui and Mr Zhao witnessed eight project signings involving Singapore-based companies and organisations.

The SGCC, which is into its fifth year, is also set to explore business opportunities in three pilot zones in Guangdong province: Hengqin, Nansha and Qianhai.

The Council’s secretariats are International Enterprise (IE) Singapore and Guangdong Foreign Affairs Office.

http://www.todayonline.com/singapore...y-transit-card


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