I can guess the effects:
1. New shops will be reluctant to provide NETS.
2. Some existing shops which are already providing NETS will cease
doing so.
3. More Singaporeans would rather draw cash from ATM machines than
pay by NETS.... so in the end, there will be fewer NETS transactions.
4. In spite of NETS's statements to the contrary, some shops would
certainly pass on the increased cost to customers, either
discreetly or openly.
If this is their definition of being 'more competitive', then I
don't want to know what 'less competitive' is.
