NETS Response to CASE Statements
The decisions by NETS to raise fees has drawn much condemnation from consumers, retailers and CASE and it has forced NETS to come up with some response to the uproar. However, if we look carefully at NETS' response , it is nothing more than a public relations exercise and that the fee increase is most likely going to proceed as announced. While thanking the various parties in coming forth to express their views, NETS is only stating that it remains open to hearing these views and feedback. However, it appears that NETS has not really heard the feedback clearly. Despite the complaints about the fee increase by consumers and merchants, NETS is saying that the change is necessary to help it stay relevant to merchants, card issuers and consumers... Merchants are already explicitly stating that they will abandon NETS payments and advise consumers to pay cash instead, consumers have already voiced much displeasure and concern that fee increases will add to inflation. NETS justifies the