NETS fee hike does not infringe Competition Act: competition panel

Just read from channelnewsasia that the Competition Commission of Singapore "has concluded that the impending fee increase by NETS is not an infringement of the Competition Act."

It said the Act is only relevant when a party acts in a manner that abuses its dominant position.

Sure. Who does NETS compete against? If it doesn't have to compete against anyone, then how can it infringe the anti-competion act? But......

The Commission added that in this case, there are alternative payment methods such as credit, debit and EZ-Link cards that consumers can use.

Sure. Every merchant offers alternative payment methods such as credit, debit AND EZ-Link cards.

Section 47 of the Competition Act prohibits firms with dominant market power from abusing it in ways that are anti-competitive and work against long-term economic efficiency.

Sure. I wonder how they define dominant market power.

CASE has expressed its disappointment over the Commission's decision not to take action on the the NETS fee increase. It is concerned retailers may pass the increased NETS transaction fees onto consumers, despite NETS saying that retailers are not supposed to do so.

May? Isn't Singapore Pools already doing that? So what is CASE doing about that?

It also stressed that banks have the responsibility to support NETS but they could keep interchange fees low.

Sure. And how is CASE going to ensure that BANKS do that?

Let's just keep things simple.

Use cash.

Or bring your business elsewhere.

No need to talk so much.