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SINGAPORE : Consumers are going to have pay more for their NETS CashCard come May, as it will include the cost of the CashCard as well.
They will have to fork out S$10 for a CashCard - comprising S$5 for the cost of the card and S$5 for the stored value amount.
Consumers can expect to see fewer blue CashCards costing S$7, which includes S$5 for stored value and S$2 for a refundable deposit. It is still available but only while stocks last.
The new S$10 CashCards will be sold from May.
NETS said the revised pricing helps to cover the cost to produce and fabricate each CashCard. It said since the cards were introduced in 1996, the cost has been borne by the local banks.
NETS said the revised pricing is also in line with the market practice of other stored value cards in Singapore.
However, the reaction from members of the public has been less than enthusiastic.
One person said, "It is a burden to the general population of Singapore. But hopefully the government can do something about it to regulate it a bit better."
Another commented, "For me it is quite okay, but the lower-income group will be quite affected."
The new S$10 CashCard will be valid for five years. - CNA/ms
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