Wednesday, July 04, 2007
CCS vs NETS
Hokay... in the continuing NETS saga, it appears that Competition Commission of Singapore (CCS) is taking a renewed interest in NETS.
In a previous post, I mentioned that NETS is now rumoured to be offering preferential rates to retailers who do not offer any other form of cashless payment methods. I also mentioned that I do not understand how that it is not 'anti competitive' and 'not abusing a dominant market position'
I feel that NETS is really testing the system. It's like a "Let's see what we can get away with attitude".
I would like to believe that the CCS is indeed taking a serious look into this issue and will address this accordingly.
However, let us think for a moment what may result of this.
1) CCS investigates and finds that the preferential rates were just a rumour.
2) CCS investigates and decides that the preferential rates are still not 'anti competitive' and not 'abusing a dominant market' as they deem that the affected merchants only offer NETS as a cashless payment anyway.
3) CCS investigates, decides that NETS is 'anti competitive' and 'abusing a dominant market position'. NETS then retracts the preferential rates. All retailers subject to 1.5% - 1.7% merchant fees.
In none of this suppositions is there a silver lining for the consumer.
Also, apparently there is an avenue of providing feedback on GST profiteering, I wonder what is the procedure for that?
Do the panadols that I bought fall under this category?
0 Adorations
Hokay... in the continuing NETS saga, it appears that Competition Commission of Singapore (CCS) is taking a renewed interest in NETS.
In a previous post, I mentioned that NETS is now rumoured to be offering preferential rates to retailers who do not offer any other form of cashless payment methods. I also mentioned that I do not understand how that it is not 'anti competitive' and 'not abusing a dominant market position'
I feel that NETS is really testing the system. It's like a "Let's see what we can get away with attitude".
I would like to believe that the CCS is indeed taking a serious look into this issue and will address this accordingly.
However, let us think for a moment what may result of this.
1) CCS investigates and finds that the preferential rates were just a rumour.
2) CCS investigates and decides that the preferential rates are still not 'anti competitive' and not 'abusing a dominant market' as they deem that the affected merchants only offer NETS as a cashless payment anyway.
3) CCS investigates, decides that NETS is 'anti competitive' and 'abusing a dominant market position'. NETS then retracts the preferential rates. All retailers subject to 1.5% - 1.7% merchant fees.
In none of this suppositions is there a silver lining for the consumer.
Also, apparently there is an avenue of providing feedback on GST profiteering, I wonder what is the procedure for that?
Do the panadols that I bought fall under this category?
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