This story was printed from TODAYonline 
Weekend • March 29, 2008
Jinny Koh
jinny@mediacorp.com.sg
From May 1, consumers must bear the cost to produce the Nets CashCard, which is borne currently by the local banks.
A new card will be priced at $10, comprising a $5 non-refundable fee and $5 in stored value, compared to the current price of $7, of which $2 is a refundable deposit.
The move parallels Transit-Link's decision in 2003 to charge for the cost of its ez-link card to reduce wastage.
According to Nets CashCard vice-president Yvonne Fong, the goal to encourage the adoption of smart card payments has been met, now that more than 4.5 million cards are in circulation and the average motorist may have between three and five cards.
"So, the local banks (which own Nets) will no longer be paying," she told Today.
As for taxi drivers, Nets will give each of them one free card, with no stored value or deposit, as a "goodwill gesture" for those who need a new card or a replacement.
Taxi driver Francis Koh, 52, was appreciative, "especially with the current inflation rate", but another cabbie, 50-year-old Alan Wong, who usually carries more than one card, did not think much of the gesture, as each card expires after five years.
For others, such as couriers, the additional costs will be felt sooner. Mr Choo Yong Sheng, 25, who owns a delivery service company, does not mind, though.
Said the 25-year-old, who employs 15 delivery men, each holding at least four cards: "If you average it out, it's only $1 a year for a card, which is not expensive."
But others felt it was unreasonable for the banks to pass on the cost.
According to Nets' Ms Fong, the production cost of its cashcard includes the cost of the plastic card, the microprocessor chip embedded in the card and the initialisation cost of the chip for the card to be used.
The new card will feature an orange laser design, and will be introduced at major distributors like 7-Eleven and Cheers.
The current blue butterfly design will continue to be sold while stocks last, and existing Nets CashCards can still be used until they expire.