Singapore’s DBS Bank Ltd. has revamped one of its flagship credit cards to accommodate new features and a new design, the issuer announced June 29.
The POSB Everyday Card now includes an ATM function, the Ez-Link transit purse, an EMV smart chip and a MasterCard PayPass contactless-payment function, the bank notes in a statement.
The Ez-Link feature will enable cardholders to use the POSB Everyday Card to pay fares on public transport in the city-state, eliminating the need to carry a separate Ez-Link card, the statement adds.
The EZ-Link card is a contactless smart card based on the Sony FeliCa smart card technology that consumers use to pay for public transportation in Singapore.
Cardholders also may link their savings or current account to the new POSB Everyday Card and use it as a debit card to access more 1,000 DBS and POSB ATMs in the city-state.
The issuer added the EMV-chip function to the card to combat fraud.
Launched in 2005, the POSB Everyday Card has 400,000 users in Singapore. It is the only credit card under the POSB brand.
POSBank, or POSB, is a brand of consumer-banking services offered by DBS Bank in Singapore. DBS acquired the POSBank brand in 1998, when it was known as Post Office Savings Bank.