EZ-Link x Mastercard Pay by Wallet Review

Denise Bay

Denise Bay

Last updated 26 August, 2022

What exactly is EZ-Link Pay By Wallet and how does it work? Find out if this newly launched feature can benefit you. 

Ever heard of the EZ-Link App? Well, EZ-Link Pay by Wallet is a new app feature borne out of EZ-Link and Mastercard’s partnership. The EZ-Link Pay by Wallet feature essentially adds  virtual Mastercard functionality to your EZ-Link Wallet, allowing funds in your wallet to be utilised at over 80 million Mastercard online and in-store merchants around the world. 

Is the EZ-Link Pay by Wallet feature any good? Is there any catch you ought to be aware of? Read on as we break down the EZ-Link Pay by Wallet feature in this thorough review. 

How to activate EZ-Link Pay by Wallet?

  1. Download the EZ-Link App and sign up for an EZ-Link Wallet
  2. Tap on the ‘Pay by Wallet’ banner in your EZ-Link Wallet 
  3. Tap on ‘Activate Now’
  4. Verify your information via SingPass 

Once done, you’ll have access to a virtual account accompanied by a virtual Mastercard card nestled within the Pay by Wallet feature. 

How do I pay with the EZ-Link Wallet? 

You can make contactless payments online, in-store and overseas at Mastercard merchants after you’ve activated the EZ-Link Pay by Wallet feature. 

As of the time of writing, Android users can add their 16-digit virtual Mastercard to their Google Pay wallet to facilitate payments while no such functionality exists for Apple users for now. According to a news report, iOS users will eventually get to use it, too.

Of course, you’ll still be able to use your EZ-Link Wallet at participating SGQR and Alipay+ acceptance points in Singapore and Japan respectively. 

Just to be clear, the EZ-Link Pay by Wallet feature does not let you spend your EZ-Link Card balance. 

Source: EZ-Link

Tap to Pay

Tap to Pay via Google Pay is available on NFC enabled Android phones. Simply tap your phone on the Mastercard merchant’s contactless payment terminal to make payments in-store or tap on bus/train readers. 

Online Payments

  1. Launch the EZ-Link App and tap on EZ-Link Wallet
  2. Tap on ‘Pay by Wallet’ to access the details of your Pay by Wallet virtual card
  3. Get your 16-digit card number, card expiry date and security code 
  4. Input your card details and pay
  5. Once done, you may track your transaction on the EZ-Link Wallet details page

Scan to Pay

When making purchases at a local merchant that accepts the EZ-Link Wallet via SGQR:

  1. Launch the EZ-Link App and tap on ‘QR Code’ under EZ-Link Wallet. Ensure the camera function is enabled for the EZ-Link App on your phone
  2. Scan the SGQR code displayed at the merchant’s outlet
  3. Enter the value of your purchase and authorize the payment with a payment pin, fingerprint or face ID
  4. Wait for the ‘Payment Successful’ notification to appear to ensure payment is completed

When making purchases at an overseas Alipay Connect merchant that accepts the EZ-Link Wallet via QR/barcode:

  1. Launch the EZ-Link App and tap on ‘QR Code’ under EZ-Link Wallet. Ensure geo-location is enabled for the EZ-Link App on your phone
  2. Present the generated QR code/Barcode to the merchant
  3. Authorize the payment with a payment pin, fingerprint or face ID after the merchant has scanned the QR/barcode
  4. Wait for the ‘Payment Successful’ notification to appear to ensure payment is completed

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What’s the maximum amount I can have in the EZ-Link Wallet?

At any point in time, your EZ-Link Wallet balance cannot exceed S$5,000.

How do I top up EZ-Link Pay by Wallet?

Since EZ-Link Pay by Wallet is an extension of your EZ-Link Wallet, you can simply top up your EZ-Link Wallet using any debit or credit cards added to your EZ-Link app. The minimum top-up amount is S$10.

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Benefits of EZ-Link Pay by Wallet 

#1 Convenience 

This rings particularly true for Android users since Tap and Go via Google Pay can be used for public transport rides and at Mastercard merchants worldwide with ease.  

#2 Global acceptance 

Regardless of whether you’ll be making online or in-store payments, you’ll be happy to know Mastercard is widely accepted pretty much everywhere on the globe — Mastercard is accepted in more than 210 countries and territories worldwide

In terms of merchants that take Mastercard payments, that figure sits at somewhere over 80 million as of the time of writing. 

In case you were wondering, no activation is required for overseas transactions. 

#3 EZ-Link rewards

You can earn EZ-Link Rewards points with every transaction made using EZ-Link Pay by Wallet. Every S$0.10 spent with the EZ-Link Wallet will earn 1 EZ-Link Rewards point. Take your pick from the EZ-Link Rewards catalogue which comprises perks from 200 merchants across F&B, retail, motoring and more!

#4 Access to Mastercard’s Priceless™ Specials 

EZ-Link Pay by Wallet users can also gain complimentary access to exclusive offers across Mastercard’s Priceless™  Specials, where you’ll find a curated list of benefits across the main pillars of Eat, Play, Shop and Stay.

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Disadvantages of EZ-Link Pay by Wallet 

#1 You don’t earn miles or cashback for topping up 

The biggest bummer for savvy credit card rewards chasers would be that there’s no way you can earn miles or cashback for topping up your EZ-Link Wallet. 

#2 Fees for cross-border transactions apply 

While there aren’t any extra fees involved for local transactions, keep in mind that fees for cross-border transactions made online or in-stores via EZ-Link Pay by Wallet will apply. 

Type of transactionsFees
Foreign currency transaction fee (Full cross-border charge; original amount not in SGD)1% fee levied by EZ-Link and 1% levied by Mastercard
Cross-border processing fee (SGD transaction settled outside of Singapore)1% levied by Mastercard
DCC (SGD transaction made overseas)2% levied by EZ-Link and 1% levied by Mastercard

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How to top up EZ-Link card online?

If you happen to be someone who’s still using your good old EZ-Link card, you might want to consider topping up your EZ-Link card online the next time around. Nobody deserves to queue up for such mundane chores! 

Beat the crowd by topping up via Express Top-up on EZ-Link App. Follow these simple steps:

  1. Tap on the Express Top-up icon on the EZ-Link App
  2. Tap your adult or concession card behind your phone
  3. Choose your preferred Express Top-up amount and payment method 
  4. Tap your card behind your phone to sync and hold it steady at the back of your phone till the scanning progress reaches 100%
  5. A green tick will pop up on the screen once it’s completed 

On another note, you can also choose to activate the auto top-up function on the EZ-Link App. This complimentary feature is a time-saver — it automatically tops up your account when there’s insufficient value.

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Can I top up EZ-Link with an iPhone?

Yes, you sure can. The EZ-Link App is available on iOS. Apple users can top up their EZ-Link card using their EZ-Link Pay by Wallet anytime, anywhere. 

EZ-Link Pay by Wallet promotion

To mark the launch of EZ-Link Pay by Wallet, EZ-Link is offering a limited-time-only instant S$5 credit to users who activate Pay by Wallet on the EZ-Link App. 

An extra S$5 credit will be doled out when users make a minimum spend of S$10 on eligible transactions within 30 days of signing up. Take note that transactions made for top-ups, transit, gambling, and bill payments are not eligible for earning the extra S$5 credit. 

Be quick, though! The promotion is available to the first 20,000 new EZ-Link Pay by Wallet sign-ups or until July 2022, whichever comes first. 

EZ-Link Pay by Wallet lucky draw 

EZ-Link Pay by Wallet users who make a successful transaction of at least S$80 will be automatically entered into a lucky draw with the following prizes:

  • 1 night staycation at Equarius Hotel or Hotel Michael with breakfast for two (3x winners)
  • A pair of Universal Studios Singapore tickets (80x winners)

Every S$80 spent will earn you one lucky draw chance. All prize winners will be contacted by 30 September 2022. 

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Who can use EZ-Link Pay by Wallet?

There are no income requirements to enable EZ-Link Pay by Wallet. In fact, anyone who’s a Singaporean or Singapore PR with a valid NRIC or FIN can apply for and use EZ-Link Pay by Wallet.

For whom is EZ-Link Pay by Wallet for?

Truth be told, those of us who are interested in earning credit card rewards such as cashback, miles and rewards points will not be drawn to the EZ-Link Pay by Wallet. 

As it is, it’s just as easy and convenient to make payments using credit cards powered by Mastercard, Visa and American Express — some are truly awesome at doubling as your EZ-Link card (think: no need to top-up, can chalk up rewards on transport and other expenses). 

Well then, who will appreciate EZ-Link Pay by Wallet for what it is? Parents who would like to manage their children’s spending will like the EZ-Link Wallet’s new feature. It lets parents stay on top of their children’s expenses while not compromising on their children’s ability to make payments for things like stationery, books, meals, beverages, occasional toys and more.

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While Denise has a thing for travel, K-dramas, 0% sugar bbt (with boba!), Japanese cuisine and flat white, her curious nature means all sorts of random tabs are open on her phone 24/7. She doesn’t like to pay full price for anything, too.


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