The EZ-Link car is a contactless smartcard based on Sony's FeliCa smartcard technology, used for payments in Singapore especially for transportation in Singapore . Established in 2001, it was promoted as a means for faster travel due to speedier boarding times on buses. EZ-Link cards are sold, distributed and managed by EZ-Link Private Limited, a subsidiary of Singapore's Land Transport Authority. As of 2007, there are over 10 million EZ-Link cards in circulation, with 4 million card-based transactions occurring daily.