[MP] Visa set to disembark from every S'pore taxi
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MyPaper - Visa set to disembark from every S'pore taxi
VISA cards will no longer be accepted in any Singapore taxi from next month after SMRT, the last taxi operator to have the credit card payment option, withdrew it from its cabs.
Visa is phasing out the service on SMRT's cabs to uphold its "no surcharge protection policy".
The change, to take effect next Thursday, is the latest in a longstanding wrangle between Visa and cab companies, which do not want to budge on their 10 per cent levy for credit card payments.
ComfortDelGro, TransCab and Prime stopped accepting Visa cards in July, after discussions failed to reach a desired outcome. Premier also ceased the payment option last month.
Payment through other credit and charge cards continues to attract a 10 per cent fee.
Visa told My Paper yesterday that its operating rules prohibit surcharging as this penalises card holders.
Seah Seng Choon, executive director of the Consumers Association of Singapore (Case), said the latest news was "disappointing" and "a step backwards" in Singapore's move towards more cashless transactions.
"Right now, both parties are looking at it from a cost point of view," said Mr Seah, who hopes cab companies and Visa can come to the table again to negotiate.
Cab companies said in reports last year that the surcharges are to cover a fee that they have to pay banks for every card transaction - estimated to be between 2 and 3 per cent.
Besides bank fees, there are also telco charges and costs incurred in investing in and maintaining the cashless payment terminals and services, ComfortDelGro spokesman Tammy Tan said then.
The system involved a "sizeable investment" of about $10 million, Ms Tan added.
It is understood that Visa and SMRT were in discussions to come up with a smaller surcharge fee late last year but they were unable to reach an agreement. "The decision to stop Visa acceptance is always a last option," said Visa.
SMRT's director of media and marketing communications, Alina Boey, said notices will be put up in its taxis to inform customers of the changes. "We apologise for the inconvenience caused," she added.
Payment firm MasterCard said it "does not encourage surcharging" but it recognises the need to "balance giving consumers payment choices and managing the cost of card acceptance".
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Visa??? I also forgot what is Visa liao, the best is all cards cannot use, then can see more cash. 2 thoughts 1. It is right to say that as long as consumers are willing to pay and absorb, Visa should be wise enough to let go, because it is not something of illegal and undercut trade that consumer do not know, they knew that there will be a 10% extra in order to enjoy the luxury of using it, And till now, none of my pax ever complain about that 10% surcharges when using Master or other card like Amex JCB>...So, I do not see why Visa is not flexible enough to review their policies on taxis alone. Sometime I end up having tourist asking bell boy for money...lols, then they fark the visa card for it failure to get recognized 2. On the other hand, most taxi companies and Cdg did said that it is a cost to maintain the IT infrastructure such as MDT, terminal and investment. But taxi companies must also know that the more acceptable and flexible in yr fare payment, the more popular and welcome you are. IT is electronically driven, yes, there will be an initial investment, but as time goes by, profit will start to rise exponentially, it is still the same IT except upgrading and input of more memories and bits, which is more for call system, advertisment and GPS location, credit cards system will be the same more or less. And that fall in Moore's Law that stated in IT, profit will go up naturally by it own, there is actually no a need for further investment accept add and replacement of hardwares and software programme, which further enchance it profit in near future. Like facebook, not much changes, but it is getting billions with the same shit. Therefore, I do not agree totally with cdg or any taxi companies saying that using of visa is a huge investment and costly to the company..full of craps..phuixxx
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Aiyo, taxi market very small nia la.....
All this card card company, just depend on taxi company, eat grass liao....
I sarpork Visa decision, no reason to implement surcharge for consumers.....
So if I go buy a 1 carat diamond, using visa, than still need to pay additional 10%?.....
Lj ok, I straight walk out from the shop.....
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Visa charge Taxi Company 3%
Some merchant charge customer 3% to offset their competitive price
Many merchant do not charge additional for card payment
Taxi Company charge customer 10% + 7% GST
Mode of payment is a value added service for customer, not another form of profit generating.
Moreover, they are riding on others establishment, brand and customer base.
Visa is smart to cut off the relationship, protecting their card holder from such greedy merchant. Also protecting their brand and public imaging.
As for Master Card, it show how much they are caring for the card holder.
They prefer to join the greedy one and forgo their public image.
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Well, to be fair, in business, if you are not greedy, cunning, screw and at time, cruel, you may not make it. It is not that visa do not know the existing of 10% surcharges, when comfort goes in cashless many years ago, they already accept it. It is because of the change of Visa top management that we are seeing a change in their company policies and objectives. And being global in nature, they must be guided by their HQ objectives. Therefore I do not see an issue on the 10% surcharges base on the nos of usage by paxs without much complaint, but is the the new policies and objectives that Visa set itself a new pathway of doing business.
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Too expensive for Visa.Perhaps in some ways un ethical to charge 10% as well.
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I sent in this suggestion to VISA last year. They are still "looking" into it.
VISA should create an app for payments. Commuters can download the app for free. Taxi drivers can register with VISA and will be given a unique ID.
To pay, the commuter uses the app to key in card details, taxi driver's ID and the fare amount. The money will be credited to the driver's account. An electronic receipt is generated and sent via SMS or email to both the commuter and driver. This is similar to online payments.
The commuter keys in his card data on his own phone. So, there should be no security compromise. How about it, VISA?Obviously, this will cost money to create and administer and VISA is not prepared to do so. Consumer's rights, my foot.
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Originally posted by Bio-Hawk:
Too expensive for Visa.Perhaps in some ways un ethical to charge 10% as well.
Is not unethical in the view of business, you get what you want, I do my business, it is like you sell me $5, I buy it and how much I am going to mark up is my business. And if you really want to talk about unethical, how about our taxi rental prices, ethical?? -
To save image, what visa should do is just tell their customers that the max charges for using is 3%, any higher charges are charged by the traders you are dealing which is not within the context of Visa charge. Then it is up to individual to decide on the usage. If we get back to the fundamental of Visa, what is the purpose of using?? Other than showing off, it is mainly for Convienences.
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And then as I said, as TD, we all had met with all these tourist using visa, and end up unable to use and start to curse and swear at Visa, some hv to rumble thru their wallet to find the master...lols. And it makes one rich tourist who is going to Ritz feeling like a poor chap when his Plat or gold visa cannot be use..and when I told him the reason, he careless whatever charges, because if cannot use, it is fark up card, end up I told him to get cash from the bellboy and later charge into his room, and it wasted both of us lot of unneccesary time. Therefore, in this issue, no body wins, all are losers
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Originally posted by bowah:
And then as I said, as TD, we all had met with all these tourist using visa, and end up unable to use and start to curse and swear at Visa, some hv to rumble thru their wallet to find the master…lols.
And it makes one rich tourist who is going to Ritz feeling like a poor chap when his Plat or gold visa cannot be use..and when I told him the reason, he careless whatever charges, because if cannot use, it is fark up card, end up I told him to get cash from the bellboy and later charge into his room, and it wasted both of us lot of unneccesary time.
Therefore, in this issue, no body wins, all are losers
Next Time, just tell your tourist...
" our TAXI COMPANY wanted to profit more then Visa in your transaction, and is YOU paying for it."
if want can still continue.....
" do you want to feed the GREED? Pay by Master Card then."
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Originally posted by bowah:
Well, to be fair, in business, if you are not greedy, cunning, screw and at time, cruel, you may not make it.
It is not that visa do not know the existing of 10% surcharges, when comfort goes in cashless many years ago, they already accept it. It is because of the change of Visa top management that we are seeing a change in their company policies and objectives. And being global in nature, they must be guided by their HQ objectives.
Therefore I do not see an issue on the 10% surcharges base on the nos of usage by paxs without much complaint, but is the the new policies and objectives that Visa set itself a new pathway of doing business.
In business, if you are not greedy, cunning, screw and at time, cruel, you may not make it.
This sentence is very true, and that is why the authority do not allow YOU to (make it)
btw, such sentence are to be use silently, personally and in discreet when you are performing in a business.
when you are in a position of consumer, NO supportive message should be delivered. Moreover in open public.
There is no right or wrong, there is only using it at the right/wrong place and time.
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Bowah, you jin funny.....
Whether pax pay in card or cash, knn, you still collect same amount what, why you bother pax not happy with Visa?.....
Unless you telling me, taxi coy pay us TD certain percentage for accepting cards than different story lor.....
And than hor, normally tourists will carry cash with them, just like we travel to any part of the world, also will carry minimum their country currency mah.....
Most likely is those knn so call business travelers, paying ah gong card and act ya ya.....
Of course this are the cb kia don't bother about surcharge la, ah gong money mah.....
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And FYI, not all coy so chin chye on this surcharge hor....
At least not my coy.....
If I have to pay taxi fare by coy credit card, sorry hor, 10+7% borne by me hor.....
So usually I still pay cash, take receipt, claim petty cash, faster and less headache.....
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Taxi Coy charge 10%, I willingly pay cos convenient. Who the fark is VISA to say can or cannot? I make the decision cos it's my money.
Next time I tell pax, sorry it's VISA problem. You go fark them.
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Its all abt branding.
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Today last day Smrt taxi accept Visa. MDT flash message to remind drivers.
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I like cashless, cos i take it as saving, few years never touch these cashless intake liao, must be in thousands
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not going to affect much
becos u all always say "paiseh, machine spoil hor, cash only" to everyone oredi wat
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Ya, don't know why, after peak hour, my cashless terminal always auto spoilt.....
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Originally posted by bowah:
I like cashless, cos i take it as saving, few years never touch these cashless intake liao, must be in thousands
Thousand hor.....
Than $50 lai dong leh.....
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You see, this Visa, Master is a very unique things.....
Consumers not happy, they only can fark their respective bank only.....
They can't really fark Visa or Master upside down.....
And most bank issue credit card as a non secure loan, meaning they grant you certain credit limit in order for you to spent your future money.....
So as a consumers, fark the bank also no use, because indirectly, you are "in debt" to them, you are their debtor you know, so what you are a prompt payment customer, it only show you don't over spent, becos the money in your credit card don't belong to you, the bank will only classified you as a good customers, give you some freebies lor......
So even certain merchants don't accept Visa or Master, we consumers also lan lan, we should know where we really stand when using all this credit card......
So be smart please, at least stand by cash to make sure you won't fall into ugly scene.....
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$50, i also bo...cos UOB card with wife...haiz....now u understand why i cannot touch, only can see...and can only show acc book to sian PRC bak bak..but cannot draw. Actually, people never care how much is the surcharge one, till now, so many years, no pax ask me how much is the surcharge, to most users, using cards is a show of class,...still ask how much is the surcharge is like no face to them...lols. And just for info, credit cards payment default is on the rise.
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I support VISA.... I support cashless........ haiz.... walk 3 steps backwards yesterday took a bus and realized my ezlink card has no cash liao... so I got no coins..... bo pian....put $2 notes :p This analogy good a not ??? You want convenience to use VISA to pay for public transport....surcharge is perfectly reasonable......