Bilateral ties between Singapore and Taiwan have hit an all time high.

In about a year's time, Singaporeans will soon be able to use their EZ-Link to pay for transport and in retail shops in Taiwan.

EZ-Link signed a Memorandum of Understanding (MOU) with EasyCard, the Taiwanese version of EZ-Link, on June 2.

Both parties will jointly develop a cross-border multi-functional contactless card.

The card, to be named Cross Border Combi Card, will allow payment for public transportation, admission tickets and even local attractions.

Taiwanese travellers will also be able to use the card to pay for things when visiting Singapore.

According to the companies, it will contain separate "purses" to store both Singapore and Taiwanese currencies.

EZ-Link said the new card will be ready within a year.

Disclaimer: The top photo is not the actual Cross Border Combi Card.

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