<TABLE border=0 cellSpacing=0 width="100%"><TBODY><TR><TD class=heading>Latest comments</TD></TR><TR><TD id=messageDisplayRegion width="100%"><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>Aiyasoso is spot on. The main aim is making more money from the captive public.
At $3 per card and there are 4 million on the road the company would have got $12 million real quick. At $0.25 per top up and with four million transactions per month the company is getting $1 million. That is $12 million a year.
How much do you think the plastic card cost?? What kind of constant profit the monopoly reaps every year?
That is good business. The CEO and his teams should get good rewards and bonus.
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: steamroller at Thu Oct 08 10:23:35 SGT 2009
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=AlternatePost cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>everytime when they make changes.., their main aim is to make money n profit after profit, In the beginning , they encouraged us to use card instead of cash ,claiming its more convenient, cashless n safe, less administrative work n so more productive,,And when everyone is using cards they start to penalise the majority card user, giving all the lame excuses n forgot wat they had promised
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: aiyasoso at Mon Oct 05 19:15:43 SGT 2009
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>For every card and its topped up value, in accounting terms, these monies are already in the books of the company issuing these cards. Banks are also in the loop. Therefore if we have 1 million cards in circulation (example) and each has $10 in it, we will already have a revenue of $10 million deposited into the bank's account for this company. The company has obligations to pay the debts or debits from these cardholders to companies like bus company, MRT and so on. If 100,000 people lost their cards, and they do not bother to report it because reasons like, too troublesome, fees, etc, this company effectively can pocket $1million for free.
ONe more thing, before you actually swipe that card for a bus ticket, how much bank interest could $10million generated for the company in 1 day, 1 week or 1 month?
Lots.
And therefore cards and top-up schemes will always be a way to generate bank interests and other profits for the authorities. And please don't tell me about the infrastructure costs and such reasons, because these are small and they are business investment sunkcosts to generate this type of interest earning schemes. EZ for the card holders? Yes but only that much little easier.
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: lplp at Mon Oct 05 15:15:39 SGT 2009
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=AlternatePost cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>Ezlink owned by LTA. NETS owned by the banks. CEPAS replaces NETS Cashcard for cars. LTA in charge of cars and ERP. It is not about "benefits to the consumers". It is about ownership and control.
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: SeenItAll at Mon Oct 05 13:24:54 SGT 2009
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE></TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" cellSpacing=2 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left><TABLE style="WIDTH: 100%" class=Post cellSpacing=0 cellPadding=0><TBODY><TR><TD style="VERTICAL-ALIGN: top" align=left>Fully agree with Mr Kwong. It is a clear cut of moving backwards. The roll out plan to change to the new card is nothing short of a disaster as well.
Some top brass can claimed that months of notice were given to change card for free, however people waited till last minute so the extension of free exchange of 1 week is already very nice of them. However details for those on GIRO were totally fuzzy till a month or so before the deadline. Is that considered well planned? No.
Previously no cost for GIRO, now got fee AND 21 days to wait for and you have to complete a physical form.
If you go to Post Office to change, Post Office system is not allowed to cancel the GIRO in the old card.
Is it the consumers fault that the company decide to adopt a new card? If not, why not just offer free replacement for a much longer time or till the old card expires (which i believe max lifespan is 5 years for old card?). I may be wrong, but the new card has only a 3 year lifespan compare to 5 for the old card? in this aspect, credit card companies are doing it much better or even some membership cards. Free replacement if it is a corporate initiative and relatively hassle free.
</TD></TR><TR><TD style="VERTICAL-ALIGN: top" align=left>Posted by: Hailstorm at Mon Oct 05 11:53:21 SGT 2009
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