No control over banks' fees: Uber
Uber charges the fares for rides in Singapore in Singapore dollars ("Why is Uber processing local payment overseas?" by Mr Krishnamani Kannan; yesterday).
However, because the company and its payment processing facilities are based in the Netherlands, some banks in Singapore charge a fee to process credit card payments for the rides.
The Monetary Authority of Singapore has previously said that the imposition of international transaction fees by credit card companies is a global practice and is not unique to Singapore.
It is common practice for multinational companies to run different parts of their operations in different parts of the world.
It is important to recognise that in Singapore, international transaction fees are never charged by Uber - we charge only the fare.
Issuing banks may choose to add transaction fees at their own discretion, and we have zero control over this.
South and South-east Asia
This article was first published on January 29, 2016.
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