Date: 04 November 2009
Issued By: PaymentLink Pte Ltd

• Concession and ez-link cards have the highest wallet penetration amongst all payment cards
  in Singapore
• All 5,000+ retail points-of-sales have migrated to new ePayment infrastructure and are
  CEPAS-compliant
• Targets to triple retail points-of-sales from 5,000 currently to 15,000 by end 2010
• Dairy Farm Singapore group (“DFS”) joins PaymentLink’s EzRewards loyalty scheme, adding another 1,000 retail points next year
• EzRewards members to start accumulating EzRewards points now to qualify for special promotions and discounts at DFS next year

Singapore, November 4, 2009 – PaymentLink Pte Ltd (“PaymentLink”) today announced its plans to embark on an aggressive expansion strategy to triple its network of retail points-of-sales for concession and ez-link cards from 5,000 currently to 15,000 by end 2010.  This is part of PaymentLink’s strategy to tap the vast cash-based retail transaction market in Singapore, particularly in food & beverage outlets and other convenience services.

PaymentLink is the partner of the Land Transport Authority of Singapore (“LTA”) and the exclusive partner of EZ-Link Pte Ltd for the provision of non-transit payment and loyalty services for concession and ez-link cards respectively.

Growing Network of PaymentLink Retail Locations
Currently, the concession and ez-link cards have the highest wallet penetration amongst all payment cards in Singapore, with over 6 million ez-link cards and concession cards in circulation. These contactless cards comply with the Contactless E-Purse Application Standard (CEPAS).

Group Managing Director of PaymentLink, Mr Jeremy Tan said, “Given the pervasive use of concession and ez-link cards in Singapore, we have observed a growing trend of consumers using concession or ez-link cards to pay for small-value items and services. We are now working closely with selected merchants to triple our network of retail points-of-sales from 5,000 currently to 15,000 by end 2010.

“Besides fast and efficient payment and lower handling costs, merchants can also enjoy value-added services such as the various consumer loyalty features under our EzRewards platform. With our strengths in contactless card payments, we are confident in attracting more merchants to come onboard and reach out to the over 6 million ez-link and concession card holders.”

EzRewards Collaboration with Dairy Farm Singapore group
Currently, registered EzRewards consumers will earn EzRewards points for spending on their concession and ez-link cards on PaymentLink merchants as well as for ERP payments. To-date, PaymentLink has over 5,000 retail points-of-sales, which include all SMRT taxis, all 7-11 convenience stores, selected F&B outlets such as Jollibean and Café Galilee, the National Library Board library branches, the National University of Singapore, Nanyang Technological University, selected primary and secondary schools and junior colleges, Singapore Turf Club and selected government ministries and statutory boards.

Mr Tan said, “PaymentLink is pleased to announce our latest collaboration with DFS in our enhanced EzRewards programme. With DFS as our key EzRewards partner, qualified EzRewards members will be able to enjoy special promotions and discounts from DFS’s retail outlets next year.

With the rapid expansion of PaymentLink’s network of merchants and retail points that accept concession and ez-link cards, EzRewards consumers will be able to effortlessly earn and accumulate EzRewards Points.

We are optimistic that this collaboration will encourage EzRewards members to simply use their concession or ez-link cards instead of cash and coins for payment at our PaymentLink merchants. This will, in turn, substantially drive the move towards a cashless society. ”

Mr Jeff Lee, Finance Director, Dairy Farm South Asia, said, “By rewarding EzRewards members at our portfolio of retail brands such as Cold Storage, MarketPlace/Jason’s, Shop n Save, Giant and Guardian Pharmacy, we intend to tap into Singapore’s largest payment card base to create a winning collaboration for both parties.”

The addition of DFS’s retail outlets is expected to add about 1,000 retail points-of-sales to PaymentLink’s network next year. Cardholders can register for EzRewards at www.ezrewards.com.sg. Further details will be announced in the coming months.

PaymentLink’s Contactless Payment Infrastructure in Place
PaymentLink recently completed the full migration of its existing network of over 5,000 retail points-of-sales to the new CEPAS card platform. This is part of Infocomm Development Authority of Singapore (IDA)'s 10-year infocomm masterplan, Intelligent Nation 2015 (iN2015) and the pillar of the national ePayment infrastructure. CEPAS provides consumers with a quick, seamless and secure means of paying for not only public transport, but also for various retail purchases.

Added Mr Tan, “So far, we are encouraged by the feedback from participating merchants and consumers.  We are now ready to replicate our successful model. With a well-tested platform and the requisite infrastructure in place, PaymentLink aims to provide a smooth user experience for both merchants and consumers, and thereby enable contactless card payments to become a way of life in Singapore.”

Rebranding to Reflect Business Focus
Formerly known as QB Pte Ltd and now officially renamed PaymentLink Pte Ltd, PaymentLink is co-owned by Korvac Holdings Pte Ltd and Mitsui & Co. (Asia Pacific) Pte Ltd.

Mr Tan said, “PaymentLink better reflects our focus on enabling non-transit payment related transactions. With today’s dynamic technologies, we look forward to accelerate the use of concession and ez-link cards as a mainstream payment alternative for consumers.”

Deputy Managing Director of PaymentLink and Mitsui’s corporate representative, Mr Kazuhiro Nomura said, “We are delighted to have the opportunity to participate in the advent of exponential growth of Singapore’s contactless payment industry. With PaymentLink’s innovative solutions and services, we are confident that we will be able to revolutionise the way consumers pay for their everyday necessities and enjoy cashless convenience. ”

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About PaymentLink Pte Ltd
Formally known as QB Pte Ltd, PaymentLink Pte Ltd is the partner of the Land Transport Authority of Singapore (“LTA”) and the exclusive partner of EZ-Link Pte Ltd for payment and loyalty services on the concession and ez-link cards respectively.

Co-owned by Korvac Holdings Pte Ltd and Mitsui & Co. (Asia Pacific) Pte Ltd, PaymentLink combines smart card technologies with innovative solutions and efficient back-end processing systems, to provide more value-added services on top of e-payment for contactless cards.

With PaymentLink’s services, merchants and consumers will enjoy greater mileage on their concession and ez-link cards as PaymentLink is able to integrate value-added services such as consumer loyalty programmes, access control, online statements and reporting on a single contactless card medium.

PaymentLink also operates the EzRewards Programme to reward consumers for using their concession and ez-link card.
With the aim to revolutionise the way consumers pay for everyday necessities, PaymentLink works closely with all major banks, government agencies, merchants and retailers to extend the convenience offered by concession and ez-link cards to more than 5,000 non-transit PaymentLink payment points in Singapore.

About Korvac Holdings Pte Ltd
Established in 1999 in Singapore, Korvac Holdings Private Limited is the management and holding company of four separate groups of businesses.  Headquartered in Singapore, Korvac Holdings also has offices in Malaysia and Thailand. The Korvac Group of companies are dedicated to providing Payment and Consumer Data Processing Services. The Group’s subsidiaries are:-

KPS: Provides fully-managed merchant payment infrastructure services to our bank clients.

PaymentLink: The partner of the Land Transport Authority of Singapore (“LTA”) and the exclusive partner of EZ-Link Pte Ltd for the provision of non-transit payment and loyalty services for concession and ez-link cards respectively.

Consumer Cube: A specialised consumer data analytics and targeted marketing firm.

Card Alliance: A PIN-based debit card processing network.

About Mitsui & Co. (Asia Pacific) Pte Ltd
Mitsui & Co. Ltd. (Mitsui) is one of the world's most diversified and comprehensive trading, investment, and service enterprises. Headquartered in Tokyo, Japan, Mitsui maintains a global network of 159 offices in 67 countries, and has 479 subsidiaries and associated companies worldwide. Mitsui & Co. (Asia Pacific) Pte Ltd is Mitsui’s trading subsidiary located in Singapore.