News Alert| Singapore Pools’ 10-cent PayNow fee under scrutiny; surcharges by merchants prohibited, says DPM Gan

[snapp]

PayNow merchants are not allowed to impose surcharges on customers for making such transactions.

But for years, Singapore Pools has been charging a 10-cent fee for each PayNow transaction.

Deputy Prime Minister Gan Kim Yong, who is the Minister for Trade and Industry and chairman of the Monetary Authority of Singapore, said the Association of Banks in Singapore (ABS), which owns the PayNow scheme, is engaging Singapore Pools to address this practice.

Continue reading: https://www.straitstimes.com/singap...rcharges-by-merchants-prohibited-says-dpm-gan

 

[zensushi]

News Alert| Singapore Pools’ 10-cent PayNow fee under scrutiny; surcharges by merchants prohibited, says DPM Gan​

Many merchants are still imposing surcharges for payment by credit cards.

 

[BBClone]

Don’t worry, no fault will be found, some “operational lapses/oversight” probably

Everyone will be happy and move on

 

[Suporter]

Sleeping beauty just woke up ?

 

[Lonewolf83]

Simi 10 cents? last time I use Nets payment, they tell me 20 cents charge leh

 

[jeffprobst]

They should go after company asking for convenience fees when purchasing online. like buying movie tickets.

 

[sango65]

wow, monitoring again? so will refund the customers?

 

[oddbasket]

Taxis also have surcharge for nets and paynow

 

[tqx]

MAS under Ministry of Finance, SPools under tote board also under MOF. so same boss, just let boss decide can le

 

[RSKeisuke]

so is spools going to retrospectively refund all past charges?

maybe a goodwill "paynow fee debacle" toto special draw, where punters can pick 6 out of 12 numbers?

 

[iammole]

why he wasn't this "hardworking" during covid

 

[Magnuz]

How bout the surcharge of 10 or 20 cents when paying with nets card?

Is that also permitted?

 

[uselessbum]

To me, this is wilful flouting of the rules by a govt agency (owned by tote board which is under MOF). This is egregious. It's one thing if private merchants do it.....some may not even be aware of the rule. Yet an organisation like pools is not only well aware but seemingly don't give a F about it? Then on what basis do you expect merchants to comply? They will just point back to this and say....."the gahmen isn't even following their own rules"

 

[toolbox03]

MAS under Ministry of Finance, SPools under tote board also under MOF. so same boss, just let boss decide can le

What is LW doing?

 

[AndroidComa]

can we get a refund?

 

[weiess]

 

[waiken]

so is spools going to retrospectively refund all past charges?

maybe a goodwill "paynow fee debacle" toto special draw, where punters can pick 6 out of 12 numbers?

doing tis wont hurt them one bit

 

[alex22]

Just change the mame to convenience fee then settled

 

[Joseph12]

PayNow merchants are not allowed to impose surcharges on customers for making such transactions.

But for years, Singapore Pools has been charging a 10-cent fee for each PayNow transaction.

Deputy Prime Minister Gan Kim Yong, who is the Minister for Trade and Industry and chairman of the Monetary Authority of Singapore, said the Association of Banks in Singapore (ABS), which owns the PayNow scheme, is engaging Singapore Pools to address this practice.

Continue reading: https://www.straitstimes.com/singap...rcharges-by-merchants-prohibited-says-dpm-gan

Let me guess - WILL not refund

 

[alex22]

To me, this is wilful flouting of the rules by a govt agency (owned by tote board which is under MOF). This is egregious. It's one thing if private merchants do it.....some may not even be aware of the rule. Yet an organisation like pools is not only well aware but seemingly don't give a F about it? Then on what basis do you expect merchants to comply? They will just point back to this and say....."the gahmen isn't even following their own rules"

Jo Teo has experience in something this type one, where is she to share the know-how