Touch ‘n Go and Singapore’s EZ-Link have announced that the development of a dual currency card that will enable users to pay for mobility in Malaysia and Singapore is making progress, and is targeted for launch sometime in the fourth quarter of this year.

The two companies had signed a memorandum of understanding (MoU) on July 30, 2017, to develop the new dual currency card, the first in Southeast Asia.

The Combi Card will securely host both electronic wallets from Touch ‘n Go and EZ-Link, Singapore’s largest issuer of CEPAS-compliant cards. The card will offer integrated digital payment at enabled touch points in both countries – initial deployment will first allow users to pay for urban mobility and parking charges.

“EZ-Link is excited to partner with Touch ‘n Go to make it possible for our people to conveniently pay for electronic road pricing in Singapore, highway tolls in Malaysia and parking as a start, and shopping and dining in the future with just one card,” said EZ-Link CEO Nicholas Lee.

“The partnership inked with EZ- Link is one of the many ways Touch ‘n Go is innovating to bring the benefits of cashless payments to wider market segments,” said Touch ‘n Go CEO Syahrunizam Samsudin.

“This synergy to create a dual currency cross-border combi card will undoubtedly make daily transactions fuss-free for Malaysian and Singaporean consumers with faster, simpler and more secure payment options,” he added.