The Wannabe Economist

NETS says there is no shortage of CashCards
By Heather Tan, Channel NewsAsia | Posted: 15 April 2008 2137 hrs

SINGAPORE: Electronic payments provider NETS said that there is no shortage of CashCards.

This assurance comes after some outlets reportedly ran out of cards on Tuesday.

But NETS said it has ample supply of the current Blue Butterfly CashCards, which cost S$7. This will continue to be sold while stocks last. Currently, a refundable S$2 deposit is payable for each NETS CashCard.

And from 1 May, NETS will introduce the S$10 CashCard which will feature an orange laser design.

With the new card, there is no need to pay a deposit. That’s because, of the S$10 you pay, S$5 is the cost of the card and the other S$5 is the stored value.

There are 4.5 million NETS CashCards in circulation today.

NETS CashCards are available at all Cheers, 7-Eleven and FairPrice Xpress outlets. You can call 6274 1212 for more information. - CNA/vm

via http://www.channelnewsasia.com/stories/singaporelocalnews/view/341632/1/.html

I must comment on the language skill of this journalist. It was phrased so well that i was elated for that split second when i read that you do not have to pay a deposit with the new cashcard from 1 May on even though it’s going to cost you $10 at the point of purchase.

That was before my eyes went to the next line and noted that that is because the $5 is the cost of the card.

See, the wonders of language. Even a bad news can be phrased into something good.

I reckon if you’re the careless type like Mrs Chongky, go to the nearest 7-eleven right now and stock up on extra cashcards, just so that even if you lost / misplaced / displaced / dropped / forgot where you put it / lost you still won’t need to fork out $5 to pay for your own cashcard yet.

But i guess making you pay for your own cashcard is the right thing to do. It’s YOUR OWN cashcard after all, right?

So this is the efficiency that Singapore is best known for?

I haven’t give this issue much thoughts, other than merely follow the news on LOCAL mainstream media and blogs of mr brown and mr wang.

Thanks to mr brown who referred to this article in his latest entry. I admit to my indifference to this incident on the whole, and i did not see any issues with regards to the local media coverage, other than the obvious blown-out-of-proportion exposure to the effort to hunt him down. But Cherian George sees the reporting from a more profesional journalism point of view and hence all the obvious shortcomings have been noted.

I still do not have much to comment on this issue, other than generally agreeing to what the 2 bloggers and Cherian George had mentioned.

I reckon the best readings of local current affairs are still online, through the two blogs. Concise. To the point. And focus is on the other side of the story.

Time to join Mrs Chongky to watch Sweets for my Sweets. Not for Jade Seah. But for the yummy deserts.

I have been following this news since yesterday, checking for updates on google search every now and then. While i read similar reports frm Reuters and CNA yesterday, and more details on the Straits Times this morning, what just came up on CNA is saddening, though expected.

I rowed once with the team, and i know how everyone doesn’t like the personal floatation devise. I didn’t like it myself, and just like everyone else, i chose not to put it on, despite being an anal kayaking instructor who would emphasize on the importance of the PFD.

It’s unfortunate that this happened.

Missed this news update earlier. My condolences to their friends and family.