SINGAPORE (Aug 2): In a bid to encourage cashless transactions and reduce the usage of coins in Singapore, Wirecard, EZ-Link and Cheers have jointly rolled out a new cashless solution islandwide.

The service, which does not require a transaction fee, is available at selected Cheers convenience store outlets.

Customers may inform the cashiers to top-up their EZ-Link cards and EZ-Charms – the contactless payment solution for commute on buses and trains as well as lifestyle purchases – directly with the change they receive with purchases.

This minimises the inconvenience and time needed for the cashiers to count the coins.  

In a press release on Thursday, Wirecard says its co-operative effort supports Singapore’s nationwide e-payment drive in pushing users to go cashless, as the country continues to harness technology to bring greater convenience, speed and security to citizens.

The loose change top-up service offers an “integrated and fuss-free” e-payment experience, says the local fintech firm.

This initiative was first announced in Feb this year as part of a joint effort between EZ-Link and National Trades Union Congress (NTUC), the parent company of Cheers.

“To complement the growing preference towards cashless transactions especially on public transport, our Cheers stores empower customers a convenient option through Wirecard’s cashless solutions,” says Jeffry Ho, regional managing director at Wirecard.

“Customers can simply convert the change from their purchases to their EZ-Link card – this minimises the need for unnecessary separate trips just to top-up their cards,” he adds.