NETS fee hike likely to affect consumers

NETS imposing higher levy on retailers.

NETS now charges businesses 0.35% – 0.55% of each transaction.

Starting July, NETS intends to increase this to 1.5% and 1.8%. Merchants may stop offering NETS or pass on higher transaction fees to customers as part of the total price as NETS does not allow retailers to charge customers for using NETS.

Consumers Association of Singapore (CASE) is taking up issue with NETS and has filed a complaint to the Competition Commission of Singapore concerning.

Source: “Consumers can expect to pay more with higher NETS levy“, Channel NewsAsia, 5 Jun 2007