MAS & ABS are in discussions with Singapore pools over its practice of imposing a surcharge on PayNow transactions

[steven jialat]

Monitoring nia

Actually it is absurd to impose such surcharge for every deposit and withdrawal

 

[jinsatkilife]

Actually why they have to charge for paynow ah…. Don’t understand their reasoning too.

Paynow system not free, need pay infra cost

I thought this is fully subsidized by mof

Monitoring nia

Actually it is absurd to impose such surcharge for every deposit and withdrawal

Actually I remember the waiver for paynow fees ended already. But mof extend it.

paynow business need pay fee to bank but consumers protected

 

[Dudick]

Thought this is a good thing? It is SG gov policy to discourage gambling, so the surcharge is imposed on purpose. Like the levy when local enter casino, no?

 

[jinsatkilife]

Thought this is a good thing? It is SG gov policy to discourage gambling, so the surcharge is imposed on purpose. Like the levy when local enter casino, no?

The thing is by end of this year, need pay $0.5 for each paynow

 

[Medicated Oil]

They will ONLY interfere if they are making a loss.
They making MORE in this case.
Why should they care when they are preying the greedy residents ?

 

[Medicated Oil]

Thought this is a good thing? It is SG gov policy to discourage gambling, so the surcharge is imposed on purpose. Like the levy when local enter casino, no?

It is their policy to ENCOURAGE cashless transactions.
So, they have to make up their mind about their greasiness.

 

[jinsatkilife]

They will ONLY interfere if they are making a loss.
They making MORE in this case.
Why should they care when they are preying the greedy residents ?

How u know? Paynow system not free to run

Why do they care whether you use cashless or with cash?

 

[matrix05]

Terrible. Pattern many to increase cost of living, which FM said try to tackle.

 

[Medicated Oil]

How u know? Paynow system not free to run

Why do they care whether you use cashless or with cash?

Then, the discussion is a waste of time since no one really care and doing for the sake of clocking their KPI.

 

[euro2012]

yes paynow not free one..just that banks , mas now all close one eye never charge anything only..

in the future they are going to charge.. see when only.. but jialat lah.. encourage cashless but charge people money for cashless transaction

 

[jinsatkilife]

yes paynow not free one..just that banks , mas now all close one eye never charge anything only..

in the future they are going to charge.. see when only.. but jialat lah.. encourage cashless but charge people money for cashless transaction

Then people will switch to cash and banks have to pay for costs associated with servicing cash

 

[purplewave]

nothing ish free no more

 

[euro2012]

Then people will switch to cash and banks have to pay for costs associated with servicing cash

yes, but you never know.. top wicked one lar.. always ringfence other methods

for eg if u want to pay cash to take pub transport becomes more expensive..

 

[ShinnAsuka]

But we giving spools convenience by not queuing up at the outlets leh

 

[samferguson]

Meaning hinting all businesses will follow suit and start charging convenience fees soon?

 

[tshace]

They charge 10 cents "convenience" fee if you top up the app or pay your bet tickets via Paynow at the counters.

People no choice have to pay.

Meaning ...
Coz it's soooo convenient, they must charge it, rite???

 

[swenson]

Paynow system not free, need pay infra cost

I thought this is fully subsidized by mof

Actually I remember the waiver for paynow fees ended already. But mof extend it.

paynow business need pay fee to bank but consumers protected

Didn't know this, but good to know, thanks

 

[maniamcool]

what's wrong with the fee?

transport fare also increasing what?

pay 10 cent more for nation building cannot meh?

 

[eq2addict]

yes paynow not free one..just that banks , mas now all close one eye never charge anything only..

in the future they are going to charge.. see when only.. but jialat lah.. encourage cashless but charge people money for cashless transaction

go back paywave / CC / nets lor. the paynow is because of the china ppl popularised the QR code thingy & no surcharge.

but actual fact it is more troublesome than paywave or nets . cos u goto login bank acct and key in amt of money. then slide the slider . then wait for green color.

 

[Fightfat]

Does anyone knows what Singaporepools charge for online nets transfer ?
If I am not mistaken, it is 0.80 cents to transfer.
How the hell in 2025 do we need to pay so much money to transfer money online ?
Is there too many admin work or regulations to follow ?