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I READ with concern last Sunday about the fee hike for Nets CashCards, 'CashCard price up'. Consumers have no choice but to buy at the price set by Nets, which is privately listed and whose major shareholders are banks. Motorists, whose concerns were addressed by an official in the Nets website, are not the only ones affected. University students like me use CashCards regularly.
While it is understandable for Nets to charge a fee for the sale of its cards, what is wrong is the lack of alternative choices for consumers, which results in a monopoly for Nets, as well as the lack of a body to regulate such price increases for an item which has become a necessity.
Motorists have no other choice but to use CashCards for ERP transactions because it is the only one that fits, and National University of Singapore students can only use CashCards for photocopying and paying fines in NUS because there are no other cards that can be used.
Zhuang Kuansong
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