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I don’t carry lots of cash in my wallet. Heck, not even coins. And i remember reading somewhere that there was a rise in the use of electronic wallets, ie: cashless transaction, credit cards/etc.
My transactions are either with my master or nets.
Nets now charge businesses between 0.35 and 0.55 per cent of the amount of each transaction. Starting July, this will be increased gradually to between 1.5 and 1.8 per cent of purchases. What is the immediate effect on the masses? Consumers are expected to prepare for a price hike by retailers, to pass on the extra cost.
What do i think of this? Ridiculous. I’d rather deal in credit since its much more cheaper to use! NETS what were you thinking? Tsk tsk tsk.
Is this commercial decision to pay for its latest brand change? Make Life Great.OH REALLY?!!
Tell me what you think, and remember of the GST hike next month, plus the ridiculous NETS levy hike. God save SG!