VISA SAYS CARDS NOT ACCEPTED AT SINGAPORE’S COMFORT TAXIS

(The following is a reformatted statement issued by Visa on
its Singapore website,
http://www.visa.com.sg/aboutvisa/mediacenter/press.shtml) 
Singapore, 12 July 2013 
Visa emphasizes that surcharging Visa payment cards is
unacceptable 
From Monday 15 July, Visa cards will no longer be accepted at
all ComfortDelGro and Trans Cab taxis in Singapore following the
company’s unwillingness to remove the 10% surcharge it applies
to fares paid on Visa payment cards. 
Visa has made this decision to uphold Visa’s no surcharge
protection policy, which protects cardholders from paying
additional fees simply for using their payment cards of choice. 
Ooi Huey Tyng, Visa country manager for Singapore and Brunei,
says surcharging is harmful to consumers. 
“We believe that consumers should be free to choose their
preferred form of payment and those who decide to pay with
payment cards should not be penalized. For Singapore’s commuters
and international visitors the use of payment cards makes paying
for taxi fares more convenient, secure and reliable.
Unfortunately after lengthy discussions with ComfortDelGro we
could not reach an agreement that was fair to consumers, so we
were left with no choice but to remove Visa card acceptance.” 
“Visa’s no surcharging protection was created specifically to
shield consumers from merchants who seek to impose surcharge
fees and penalize consumers who choose Visa over other forms of
payment.  Surcharging unfairly shifts the cost of doing business
onto consumers. We remain open to working with ComfortDelGro and
other taxi companies and welcome the opportunity to talk with
them further to review their surcharging practices,”  added Ooi. 
Visa and its financial institutions have been working together
to reduce surcharging in the country and provide greater
protection to consumers. In August 2012, a Visa audit found 9%
of Singaporean merchants to be imposing surcharges or minimum
spend policies. However, by November 2012 a follow up audit
found that this had reduced to 2.8%. 
“Our research shows a strong shift away from the practice of
merchant surcharging. We firmly stand by our belief that
cardholders are entitled to the right to card choice without
penalty and we will continue to work with our financial
institution partners and merchants to ensure the practice of
card surcharging is not permitted in Singapore,” added Ooi. 
About Visa 
Visa is a global payments technology company that connects
consumers, businesses, financial institutions, and governments
in more than 200 countries and territories to fast, secure and
reliable electronic payments. We operate one of the world’s most
advanced processing networks -- VisaNet -- that is capable of
handling more than 30,000 transaction messages a second, with
fraud protection for consumers and assured payment for merchants.
Visa is not a bank and does not issue cards, extend credit or
set rates and fees for consumers. Visa’s innovations, however,
enable its financial institution customers to offer consumers
more choices: pay now with debit, ahead of time with prepaid or
later with credit products. For more information, visit
www.corporate.visa.com. 
#<788327.206239.3.4.1.0.76>#
 
 
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